Angola Holds Key Rate Steady

At its February 2014 meeting, central bank of Angola decided to leave the benchmark interest rate on hold at 9.25 percent, while raising the liquidity absorption rate by 50 bps to 1.25 percent. The standing lending facility rate was kept unchanged at 10.25 percent.

In setting up the right monetary policy, the Monetary Committee took into consideration economic data from January.

Last meeting, the central bank decided to reduce the required reserve ratio in local currency from 15 percent to 12.5 percent, but left the reserve ratio in foreign currency unchanged at 15 percent. 

The central bank said that loans in national currency rose 2.4 percent in January, while those in foreign currency increased 0.28 percent. The kwanza’s exchange rate was stable at 97.86 to the dollar. 

The LUIBOR Overnight was recorded at 4.15 percent, while maturities of 3 and 12 months were 7.49 percent and 9.42 percent, respectively.

Angola Holds Key Rate Steady

Joana Taborda |
2/28/2014 5:49:49 PM