Angolan Monetary Policy Unchanged

The National Bank of Angola decided on September 30th to leave the benchmark interest rate on hold at 9.75 percent, after cutting it last month by 25 bps. The Board recommended once again taking the LUIBOR as the benchmark interest rate on bank loans.

In setting up the right monetary policy, the Monetary Committee took into consideration the inflation rate, fiscal and monetary accounts and national and international economic situation.

In August, monthly inflation rate eased to 0.54 percent, from 0.6 percent a year ago. Prices of miscellaneous goods and services increased the most (up by 1.05) percent. The annual inflation rate also slowed to 8.97 percent, from 9.04 percent in the previous month.

At the end of August, the average exchange rate was 95.91 Kwanzas to the US dollar, down from 95.95 at the end of July.

The Monetary Policy Committee also decided to maintain the standing lending facility rate at 11 percent and the standing liquidity absorption facility rate at 0.75 percent.

Angolan Monetary Policy Unchanged

Joana Taborda |
10/1/2013 12:26:31 PM