Angola National Bank keeps base interest rate at 10.00 pct

30 May 2013

The base interest rate in Angola was kept unchanged at 10 percent, according to a decision by the Monetary Policy Commission of the Angola National Bank announced Wednesday in Luanda.

The commission also decided to keep the permanent liquidity facility unchanged at 11.25 percent and the permanent absorption facility at 1 percent.

At the monthly meeting of the Monetary Policy Committee its members notes a drop in inflation in Angola, the average rate for which over the last 12 months fell from 9.11 percent to 9.0 percent in April.

The average rate of exchange for the kwanza against the US dollar was 96.045 kwanzas at the end of April, a month in which the central bank sold US$1.98 billion to the market, thus increasing the amount provided since the beginning of the year to US$6.232 billion. (macauhub)