Angolan central bank lowers interest rates by 0.25 percentage points

3 September 2013

The National Bank of Angola decided to lower its basic interest rate, known as the BNA Rate, by 0.25 percentage points to 9.75 percent, the central bank said in a statement issued last week.

The Bank also said that the Monetary Policy committee had also decided to lower its interest rate on its permanent liquidity facility by 0.25 percentage points to 11 percent and the permanent deposit facility to 0.75 percent.

At the same meeting, the members of the Committee recommended that economic agents use Luibor (“Luanda Interbank Offered Rate”) as their benchmark bank loan interest rate.

In the statement, the central bank said that in July the interest rate on public bonds had fallen for every maturity, and the same had happened with Luibor.

Angola’s net foreign reserves totalled US$35.657 billion in July, which was a rise of 2.69 percent and US$934 million in real terms compared to reserves in June. (macauhub)