National Bank of Angola Leaves Monetary Policy Unchanged

The National Bank of Angola decided on December 23rd to leave the benchmark interest rate unchanged at 9.25 percent, following last month’s cut. The Board kept its recommendation to take the LUIBOR as the benchmark interest rate on bank loans.

The standing lending facility rate was kept at 10.25 percent and the standing liquidity absorption facility rate at 0.75 percent.
In November, while the monthly inflation rate accelerate to 0.52 percent, from 0.41 percent in October, the annual rate edged down to 7.94 percent.

Interest rates on loans in national currency slightly increased to 14.19 percent. The LUIBOR Overnight decreased to 5.20 percent from 5.38 percent, and LUIBOR 3 months declined to 8.11 percent and LUIBOR 12 months to 9.64 percent.

At the end of November, the average exchange rate was 97.39 Kwanzas to the US dollar, slightly down from 97.27 at the end of October.

National Bank of Angola Leaves Monetary Policy Unchanged

Joana Taborda |
12/23/2013 5:10:53 PM