Angola Monetary Policy

Angola

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.

FocusEconomics Consensus Forecast panelists expect the BNA Basic Reference Rate to end 2015 at 9.50% and 2016 at 9.33%.


Author:, Senior Economist

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Angola Monetary Policy April 2015

Note: BNA Basic Reference Rate (%, eop)
Source: Bank of Angola


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