Angolan National bank keeps base interest rate at 9.75 pct

29 October 2013

The National Bank of Angola has decided to keep its base interest rate, known as the BNA Rate, unchanged at 9.75 percent and its permanent liquidity facility rate at 11 percent and its liquidity absorption rate at 0.75 percent, the Angolan central bank said in a statement.

The Angolan National Bank’s Monetary Policy Committee also kept its recommendation that economic agents use Luibor (Luanda Interbank Offered Rate) as their benchmark interest rate for bank loans.

The BNA also said that the overnight Luibor rate stood at 5.52 percent, whilst the three and 12 month rates stood at 8.29 percent and 9.88 percent, respectively, “thus confirming the trend for reducing interest rates on the interbank market.”

The statement, which summarises the analysis of developments in monetary policy and economic activities in September also noted that the rate of inflation remained at below 9 percent. (macauhub)