Angola Leaves Rates on Hold

At its June 24th, 2014 meeting, Central Bank of Angola left its key policy rate unchanged at 9.25 percent for the seventh consecutive meeting.

The liquidity absorption facility rate was also left on hold at 1.75 percent, following last month’s increase. The standing lending facility rate was kept at 10 percent, following a 25 bps cut in March.

Annual inflation rate slowed again in May to 6.95 percent from 7.22 percent in April. In contrast, monthly inflation accelerated to 0.62 percent from 0.51 percent in the previous two months, but remained below the 0.87 percent recorded in the same month of 2013.

The central bank also said the LUIBOR overnight stood at 2.96 percent in May, down from 3.10 percent in the previous month and credit to the economy increased 1.22 percent. The average exchange rate was stable at 97.66 kwanzas per dollar.

Angola Leaves Rates on Hold

Joana Taborda |
6/25/2014 11:28:52 AM