Angola National Bank keeps base interest rate at 10.25 pct

21 August 2012

The National Bank of Angola (BNA) has decided to keep the base interest rate in the country unchanged at 10.25 percent per year, as well as on the permanent liquidity and absorption facilities at 11.75 percent and 1.50 percent per year, respectively, the central bank said in a statement issued Monday in Luanda.

The decision from the BNA Monetary Policy Commission was taken after analysing macroeconomic indicators, particularly inflation, which in July totalled 10.02 percent or less than in the same month of the previous year when it totalled 14.12 percent.

Interbank offer rates, continued to fall, the statement said as has been the case since the beginning of the year, with the Luibor (Luanda Interbank Offered Rate) overnight rate falling by 19 basis points in July to 5.20 percent.

The central bank also said that credit had risen 11.22 percent since the beginning of the year and the component in Angolan currency grew by 22.99 percent in the same period. The average rate of exchange for the kwanza against the US dollar remained stable at 95.38 kwanzas per dollar at the end of July. (macauhub)