Angola: Bank of Angola keeps its Basic Interest Rate unchanged for third consecutive month
October 27, 2015
At its policy meeting on 27 October, the Central Bank of Angola decided to maintain the Basic Interest Rate unchanged at 10.50%. 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 30 November.
Regarding the stock of credit in the economy, the Monetary Policy Committee said that in September it had expanded by 13.61% in cumulative terms since the beginning of the year. The Bank went on to say that the primary exchange rate depreciated by 7.57% in the same month.