Lowering of prices leads National Bank of Angola to maintain interest rates

5 September 2017

Annual inflation in Angola remains on a downward trajectory leading the Monetary Policy Commission of the National Bank of Angola to keep the main benchmark interest rates unchanged, the central bank said in a statement.

The basic interest rate – the BNA rate – was kept at 16.00%, the marginal lending facility at 20% and the seven-day liquidity-absorption facility at 2.75% per year, according to a statement issued in Luanda.

Annual inflation in Angola stood at 29.01% in July, compared to 31.89% in June and 35.30% in July 2016, “reflecting the downward course of annual inflation started in January 2017.”

In July, the “Luanda Interbank Offered Rate” (Luibor) stood at 22.37% for one day, 20.12% for three months and at 24.25% for 12 months, the Angolan central bank said.

Preliminary figures show that credit to the economy grew by 1.75% in July and that gross government borrowing decreased by 0.96%. (macauhub)