Angola’s National Bank reduces BNA Rate to 15.5%

27 May 2019

The Angolan benchmark interest rate, the BNA rate, was reduced by 25 basis points to 15.5%, the National Bank of Angola said in a statement released on Friday.

The statement, reporting the decisions of the Monetary Policy Commission, said the rate reduction was based on the fact that the annual inflation rate remains on a downward trajectory and that the money supply in circulation has contracted by 0.54% in the last 12 months.

The commission also decided to keep the interest rate of the Liquidity Absorption Facility unchanged at 0% and the Mandatory Reserves in national currency at 17% and in foreign currency at 15%.

The BNA rate had previously been reduced on 27 January by 75 basis points to 15.75%.

Gross international reserves stood at US$16.33 billion at the end of April 2019, representing an import coverage of goods and services of 8.97 months. (Macauhub)