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Angola Central Bank keeps interest rate at 18%

The Angolan Central Bank (BNA) last Wednesday decided to keep, for the third consecutive month, the basic interest rate at 18 per cent per year, after analysing the main macroeconomic indicators, such as the inflation rate.

The decision comes on a press note produced in the end of the monthly meeting of the Monetary Policy Committee (CPM) of the BNA.

In the month of November last year the BNA increased the basic interest rate from 16% to 18%, a measure that was taken to control the rise of the accumulated inflation rate.

The BNA also decided to keep cash reserve ratio of commercial banks at 21 per cent.

The note also informs that the monthly inflation rate, at national level, has been showing a rising trend in the past few months.

Source: Angop

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