National Bank of Angola keeps BNA Rate at 9.0 pct.

17 February 2015

The National Bank of Angola decided to keep the main interest rate, the BNA rate, at 9 percent a year, according to a decision from the Monetary Policy Committee.

The committee also kept the marginal lending rate unchanged at 9.75 percent per year and reduced the liquidity absorption facility from 1.75 percent to 0.0 percent.

During a special meeting to analyse the current Angolan macroeconomic situation, the Monetary Policy Committee of the National Bank of Angola restated its commitment to use appropriate tools to ensure price stability in the economy.

The meeting also served to analyse the assumptions on which the 2015 Amending State Budget (OGE) is based, due to the drop in the international price per barrel of oil, which is affecting Angolan public revenues.

Among the main macroeconomic sustainability indicators reported by the BNA for 2015, after the amendment of the State Budget, is the real GDP growth rate that remains unchanged at 6.6 percent, the inflation rate kept “within the range of 7 percent to 9 percent” and gross international reserves “of around 6 months of imports.” (macauhub/AO)