Latest decision: On 30 July, the Central Bank voted to keep the bank rate at 3.75%, following cuts of 150...
BNA Basic Reference Rate in Angola
The BNA Basic Reference Rate (%, eop) ended 2024 at 19.50%, up from the 18.00% end-2024 value and down from the reading of 9.00% a decade earlier. For reference, the average interest rate in Sub-Saharan Africa was 14.31% at end-2024. For more information on interest rate, visit our dedicated page.
Angola Interest Rate Chart
Note: This chart displays Policy Interest Rate (%) for Angola from 2014 to 2025.
Source: Macrobond.
Angola Interest Rate Data
| 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|
| BNA Basic Reference Rate (%, eop) | 20.00 | 19.50 | 18.00 | 19.50 | 18.50 |
Central Bank of Angola reduces rates in May
5-point cut brings cumulative easing to 250 basis points: At its meeting on 14 May, the National Bank of Angola (BNA) reduced the BNA basic reference rate from 17.50% to 17.00%, following March’s pause. This brought the cumulative reduction since the easing cycle started in September 2025 to 250 basis points.
Benign inflation and subdued expectations drive decision: The key factor driving the Central Bank's decision was inflation hitting a 34-month low of 11.6% in April. While the banking system's liquidity grew significantly, inflation expectations remained moderate.
Further rate cuts on the horizon: The BNA provided no future guidance regarding interest rate decisions ahead, but our panelists expect further rate cuts to follow by end-2026. Inflation will likely continue to fall from 2023’s peak in 2026, providing scope for the Bank to reduce rates further. That said, risks are skewed; rising fuel, fertilizer and food-import costs amid the Iran war may require pausing the easing cycle or hiking rates to contain inflation.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Angolan interest rate projections for the next ten years from a panel of 4 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable interest rate forecast available for Angolan interest rate.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Angolan interest rate projections.
Want to get access to the full dataset of Angolan interest rate forecasts? Send an email to info@focus-economics.com.
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