Angola: Bank of Angola keeps its Basic policy rate unchanged
April 27, 2015
At its meeting on 27 April, the Central Bank of Angola decided to keep the Basic policy rate unchanged at 9.0%. The decision followed the hike of the Basic policy rate last month, which was taken in order to fight the high level of inflation.
The Bank commented that, in March, inflation increased due to higher prices for food and non-alcoholic beverages and health. Regarding the stock of credit in the economy, the Monetary Policy Committee said that it reached a volume of KZ 3.41 million, representing a 13.20% cumulative increase in the last 12 months. The Bank went on and added that the average exchange reference rate depreciated 1.62% from the previous month, standing at 108.26 Kwanzas per USD.
Author: Dirina Mançellari, Senior Economist