Africa Angola Banking Economy Finance

Angola Interest rate kept at 18% a year

The Angolan National Reserve Bank (BNA) decided last Monday to keep the basic the annual basic interest rate at 18 per cent, after analysing the main macroeconomic indicators, such as the inflation rate.

A pres note released in the end of the monthly meeting of the Monetary Policy Committee (CPM) of the BNA states that the interest rates for Permanent Facilities on Liquidity Grant and Liquidity Absorption stand at 20% and zero per cent respectively.

The CPM also decided to keep the compulsory cash reserve ratio at 21% for the local currency (AKZ) and 15% for foreign currencies.

Source: Angop

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