National Bank of Angola keeps benchmark interest rate at 16%

18 April 2017

The Monetary Policy Commission of the National Bank of Angola decided to keep the country’s main benchmark interest rate, the BNA Rate, at 16%, as well as the 20% liquidity absorption and seven-day liquidity rate at 7.25% a year, the central bank said.


At the meeting held on 31 March but whose decisions were announced on 13 April, the commission paid particular attention to price developments, and found that the rate of inflation in February maintained the downward trend started in January 2017.


Figures from the National Statistics Institute for the Consumer Price Index of the province of Luanda showed that monthly inflation rose to 2.59% in February from 2.29% in January, but the inflation rate measured by the average of the last 12 Months against the preceding 12 months, fell from 40.39% in January to 39.45% in February.


The central bank also reported that in February commercial banks acquired foreign currency in the equivalent of US$919.8 million, of which US$798.8 million from the BNA and the remainder to customers, with the average kwanza exchange rate against the dollar remaining unchanged at 165.90 kwanzas. (macauhub)