Angola BNA keeps 16% interest rate unchanged

The Banco Nacional de Angola (BNA) will keep its 16 percent interest rate unchanged until end of November this year, following a decision from the institution’s Monetary Policy Committee.

The Banco Nacional de Angola (BNA) will keep its 16 percent interest rate unchanged until end of November this year, following a decision from the institution’s Monetary Policy Committee.

The decision was made during the BNA’s 72nd ordinary session held on Wednesday, the first presided over by newly reinstated governor, José de Lima Massano.

Meanwhile, according to the National Institutes of Statistics, the monthly inflation in Luanda in September this year was 2,54%, against 1,66% of the previous month.

Inflation in the last 12 months stood at 27,46 % against 26,95 % of August.

The interest rate whose variation can be used to control the evolution of the inflation, stood at 8,75 % until July 2014, after a 0,5% cut, before rising to 9% in 2015.  This was followed by a cycle of rises, with three increments in 2016 alone.The decision was made during the BNA’s 72nd ordinary session held on Wednesday, the first presided over by newly reinstated governor, José de Lima Massano.

Meanwhile, according to the National Institutes of Statistics, the monthly inflation in Luanda in September this year was 2,54%, against 1,66% of the previous month.

Inflation in the last 12 months stood at 27,46 % against 26,95 % of August.

The interest rate whose variation can be used to control the evolution of the inflation, stood at 8,75 % until July 2014, after a 0,5% cut, before rising to 9% in 2015.  This was followed by a cycle of rises, with three increments in 2016 alone.

Source: Angop

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