National Bank of Angola keeps main interest rates unchanged

30 July 2013

The National Bank of Angola (BNA) has decided to keep the base interest rate in the country unchanged at 10.00 percent per year, as well as on the permanent liquidity and absorption facilities at 11.75 percent and 1.00 percent per year, respectively, the central bank said in a statement issued Monday in Luanda.

In a statement, the bank said that the Monetary policy Commission decided that rediscount operations would be indexed to the rate of interest of the permanent liquidity facility.

These decisions by the Commission are based on macroeconomic indicators, including recent developments and the outlook for the Angolan economy and the economies of the Southern African Development Community and of the international scene.

In its statement the BNA said that in June it sold foreign currency to the market in the amount of US$1.652 billion, representing sales of US$9.634 billion, and that the average rate of exchange for the kwanza against the dollar was 96.3 kwanzas at the end of the month.

The overnight, three and 12 month Luibor (“Luanda interbank offered rate”) at the end of the period stood at 6.1 percent, 8.87 percent and 10.43 percent, respectively. (macauhub)