Africa Angola Banking Economy Finance Governance

Bank of Angola to set up custody fee on excess liquidity

National Bank of Angola (BNA) announced Tuesday plans to introduce the Custody Fee on excess liquidity of commercial banks.

BNA’s move is intended to boost the intermediation between the commercial banks and the economic agents, aimed to promote the economic activity.

The Financial institution’s Monetary Policy Committee (CPM) reiterated its commitment to ensure the stability of the maintenance of the economy prices.

It pledged to continue monitoring all main factors of inflation, both in terms of supply and demand.

Also read: Angola: Investing in Economic Exclusive Zones

At Tuesday’s meeting, CPM decided to keep BNA interest rate at 15,50%, in view of persistent factors of risk for the inflation and the uncertainties, due to covid-19 pandemic.

Assessing the recent trend in the main economic indicators, due to the covid-19 pandemic, the Committee decided to keep as well the interest rate on the Standing Lending Facility at 15.50%.

The interest rate of the Permanent Liquidity Absorption Facility, with Overnight maturity, also remains at 0%, according to BNA note reached ANGOP Tuesday.

Source: Angop

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: