Angolan central bank keeps the benchmark interest rate at 15.75%

2 April 2019

The Monetary Policy Commission of the National Bank of Angola decided to keep the benchmark market rate, the BNA Rate, at 15.75%, according to a central bank statement.

The commission also decided to keep the interest rate of the Permanent Liquidity Absorption Facility unchanged at 0.0% and the reserve requirement coefficients in national currency at 17% and 15% in foreign currency.

These decisions were justified by factors such as the inflation rate, which should continue on the downward trend observed in recent months, as well as the positive evolution of the real sector of the economy.

The statement said that in the first two months of the year the central bank sold a total of US$1.425 billion to the market through commercial banks, which was a decrease of 22.18% compared to the US$1.831 billion sold in the same period of 2018.

Gross International Reserves stood at US$15.99 billion in February 2019, representing coverage of imports of goods and services of 8.77 months. (Macauhub)