National Bank of Angola raises benchmark interest rates

30 March 2016

The National Bank of Angola raised all benchmark market interest rates, including the basic rate of interest, or BNA rate, which was increased by two percentage points to 14 percent, the central bank said in a statement published in Luanda.

The marginal lending facility was also increased by two percentage points, from 14 percent to 16 percent and the liquidity absorption facility was increased by half a percentage point, from 1.75 percent to 2.25 percent.

In the statement, the Monetary Policy Committee said that these decisions stemmed from an analysis of the main macroeconomic indicators, including the general level of prices, influenced mainly by the adjustment of administered prices and the change in the exchange rate.

Inflation in the twelve months ended February stood at 20.26 percent, up 2.92 percentage points from the value recorded in January 2016, according to the monetary policy committee. (macauhub/AO)