National Bank of Angola keeps benchmark interest rates unchanged in May

2 May 2017

The Monetary Policy Commission of the National Bank of Angola decided to keep the main benchmark interest rates unchanged in May, including the BNA Rate, which remained at 16% per year, according to the decisions made at the meeting held on 28 April.


The interest rate on the marginal lending facility was kept at 20.00% per year and the seven-day marginal lending facility 7.25%.


The decisions of the Monetary Policy Commission were due to the fact that year-on-year inflation has been falling since the beginning of the year, standing at 37.86% in March against 39.45% a month earlier.


The statement also said that the Angolan central bank in March sold the equivalent of US$2.1929 billion in foreign currency to commercial banks, compared to US$798 million in February.


The average exchange rate of the kwanza against the dollar on the primary foreign exchange remained unchanged at 165.91 kwanzas, the central bank said. (macauhub)