National Bank of Angola keeps benchmark interest rates unchanged

2 February 2017

The National Bank of Angola decided to keep key interest rates unchanged, including the BNA rate at 16%, according to the latest decisions of the central bank’s Monetary Policy Committee.

The same committee also decided to keep the rate on the marginal lending facility at 20% and the permanent seven-day liquidity absorption rate at 7.25%.

Members of the Monetary Policy Committee analysed the main indicators of the Angolan economy in December and found a slight increase in the consumer price index on a monthly basis, which meant that the 2016 inflation rate totalled 41.95%.

Credit to the economy increased by 1.62% in December, with credit granted to the central government declining 2.68%, while government deposits increased 14.52%.

The commercial banks purchased foreign exchange in December in the amount of US$1.947 billion, of which US$1.486 billion from the National Bank of Angola and the remainder from their customers.

The average exchange rate of the kwanza against the dollar was unchanged at 165.90 kwanzas, the Angolan central bank said. (macauhub)