National Bank of Angola increases key interest rate to 9.25 pct

1 April 2015

The National Bank of Angola increased its main interest rate – the BNA rate – by a quarter percentage point to 9.25 percent per annum, during the most recent meeting of the central bank’s Monetary Policy Committee.

The committee also decided to increase the permanent liquidity facility rate liquidity by a quarter percentage point to 10 percent and keep the interest rate on the liquidity absorption facility at 0 percent per annum.

In a statement announcing the decisions, the National Bank of Angola said that in February the inflation rate, measured by the Consumer Price Index of the province of Luanda, was 0.76 percent, up 0.27 percentage points over the same period of 2014.

In the same month, the inflation rate stood at 7.73 percent, up 0.29 percentage points compared to the previous month.

Also in February, commercial banks purchased foreign currency worth US$1.831 billion on the foreign exchange market, of which US$1.645 billion was from the BNA and the rest from their customers.

In the primary exchange market, the average benchmark exchange rate depreciated by 2.02 percent compared to the previous month, to 106.276 kwanzas per US dollar. (macauhub/AO)