National Bank of Angola raises key interest rates

2 February 2016

The National Bank of Angola decided to increase two key market interest rates, including the basic rate of interest, or BNA rate, which was increased by one percentage point to 12 percent, the central bank said in a statement Monday.

The interest rate on the marginal lending facility was also increased by one percentage point to 14.00 percent and the seven-day liquidity absorption facility was kept at 1.75 percent, according to the decisions of the Monetary Policy Committee.

The BNA also said that in December the Luibor interest rate (Luanda Interbank Offered Rate) stood at 11.31 percent in the overnight and 11.88 percent and 12.84 percent for maturities of 3 and 12 months, respectively .

The primary exchange market, the benchmark average exchange rate in December was stable against the previous month, at 135.315 kwanzas per US dollar. (macauhub/AO)