National Bank of Angola Leaves Rate Unchanged at 9.25%

In its January 2014 meeting, the National Bank of Angola decided to leave the benchmark interest rate unchanged at 9.25 percent. It also decided to reduce the required reserve ratio in local currency from 15 percent to 12.5 percent, aiming to increase credit to the economy and reduce the cost of financial intermediation.

The standing lending facility rate was also kept at 10.25 percent and the standing liquidity absorption facility rate at 0.75 percent.

The coefficient of reserve requirements in foreign currency was left unchanged at 15 percent.

In December of 2013, the annual inflation rate slowed to 7.69 percent. However, on a monthly basis, prices accelerated for the third straight month mainly due to higher food and housing cost. 

According to government estimates, the economy likely grew 7.4 percent in 2013, up from 5.2 percent in 2012, boosted by the non-oil sector. 

National Bank of Angola Leaves Rate Unchanged at 9.25%

Joana Taborda |
1/31/2014 4:57:43 PM