Angolan central bank raises benchmark interest rate to 9.0 pct

29 October 2014

The National Bank of Angola (BNA) increased the basic interest rate, BNA rate, by a quarter-percentage point to 9.0 percent, the central bank said in a statement after a meeting of its Monetary Policy Committee.

On the other hand, the Committee, decided to keep the interest rates on the lending and liquidity absorption facilities unchanged at 9.75 percent and 1.75 percent, respectively.

These decisions were based on an analysis of the evolution of key macro-economic indicators, namely of the rate of inflation, which in September stood at 7.19 percent, up 0.14 percentage points on the figure recorded in August.

In September, the Luibor rate stood at 3.86 percent in the “overnight” and 7.32 percent and 9.52 percent for maturities of 3 and 12 months, respectively.

The Angolan central bank also said that in September commercial banks acquired currency in the amount of US$2.99 billion on the foreign exchange market, of which US$1.155 billion from the BNA and the rest from their customers. (macauhub/AO)