Stability leads Angola’s central bank to keep main interest rates unchanged

27 November 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 11.50 percent and 1.50 percent per year, respectively, the central bank said in a statement issued Monday in Luanda.

The Monetary Policy Committee of the BNA, which met Monday, kept the interest rates unchanged after analysing the main indicators, specifically inflation, with prices rising 0.91 percent in October and the inflation rate remaining at a single figure of 9.76 percent.

The Committee also said that credit to the economy had risen 1.94 percent in October and 19.45 percent since the beginning of the year and the component in Angolan currency accounted for 55.89 percent of the total. The average rate of exchange for the kwanza against the US dollar remained stable at 95.47 kwanzas per dollar at the end of October. (macauhub)