Angola: Bank of Angola keeps Basic Interest Rate unchanged to combat soaring inflation
November 30, 2015
At its policy meeting on 30 November, the Central Bank of Angola decided to maintain the Basic Interest Rate unchanged at 10.50% where it has been since August. The Bank considered the decision to be appropriate due to the high level of inflation as well as the current state of the Angolan oil industry and the international economy. The next monetary policy meeting is scheduled for 23 December.
Regarding the stock of credit in the economy, the Monetary Policy Committee said that in October it had expanded by 12.23% in cumulative terms since the beginning of the year. The Bank went on to add that the primary exchange rate, after having depreciated by 7.57% in October, remained unchanged in November and stands at 135.31 AOA per USD.