National Bank of Angola raises absorption facility rate

27 May 2014

The National Bank of Angola decided to increase its permanent absorption facility rate by 0.25 percentage points to 1.75 percent, the bank said in a statement issued in Luanda Monday.

According to the statement on the main decisions of the bank’s Monetary Policy Committee the base interest rate, or BNA Rate and the permanent liquidity facility remained unchanged at 9.25 percent and 10 percent, respectively.

The decisions, the bank said, are intended to maintain price stability in the Angolan economy. In April Angola’s rate of inflation fell by 0.09 percentage points year on year to 7.22 percent.

According to the statement Luibor in April stood at 3.10 percent for the overnight  rate, 7.43 percent for the three month rate and 9.53 percent for 12 months, whilst the average exchange rate remained steady at 97.88 kwanzas to the dollar. (macauhub/AO)