National Bank of Angola increases interest rates

18 September 2015

The National Bank of Angola decided to keep the country’s key interest rate – BNA Rate – at 10.50 percent but has increased other benchmark rates, according to the decisions of an extraordinary meeting of the Monetary Policy Committee.

It increased the interest rate on the marginal lending facility from 12.0 percent to 12.5 percent and the liquidity absorption from 0 percent to 1.75 percent.

In a statement published on its website, the BNA said the decisions of the Monetary Policy Committee were based on analysis of inflation, the real economy, fiscal and monetary accounts as well as the international economic climate, including recent developments and the outlook for crude oil prices.

In August inflation stood at 11.01 percent, up 0.60 percentage points from the previous month, the overnight Luibor rate stood at 13.26 percent and the average exchange rate of he kwanza against the dollar remained practically unchanged at 126.409 kwanzas per US dollar. (macauhub/AO)