Interest Rate in Angola
Angola - Interest Rate
Central Bank maintains key policy rate at over three-year low in July
At its 26 July meeting, the Monetary Policy Committee (MPC) of the National Bank of Angola (BNA) decided to keep the key policy rate at an over three-year low of 15.50%. Similarly, the BNA also left both the interest rate for the permanent liquidity-absorption facility at 0.0% and the coefficients of mandatory reserves in local currency at 17.0% and for foreign currency at 15.0%. The decision marked a pause in the monetary easing cycle following a 25-basis-point cut in May.
The Bank stayed put against a backdrop of heightened price pressures. That said, inflation in the province of Luanda continued to trend downwards in recent months, moderating to 17.3% in June (May: 17.4%). June’s reading, which marked the lowest print since December 2015, came against the backdrop of slumping global oil prices and despite a continued depreciation of the kwanza which continued to stoke price pressures. Meanwhile, in the accompanying statement, the BNA noted that its decision to hold the key rate reflected an expanding monetary base which rose 3.3% on a monthly basis in June.
Looking ahead, the Bank is expected to return to policy easing later this year in order to prop up the economic recovery. Nevertheless, still-high inflation and the NBA’s commitment to prudent monetary policy, which is reinforced by the country’s financing deal with the IMF, is likely to limit rate cuts.
The next Monetary Policy Committee meeting is scheduled for 27 September.
FocusEconomics panelists see the rate ending 2019 at 15.38% and 2020 at 14.50%.
Angola - Interest Rate Data
|Policy Interest Rate (%)||9.25||9.00||11.00||16.00||18.00|
5 years of economic forecasts for more than 30 economic indicators.
Angola Interest Rate Chart
Source: Central Bank of Angola
|Exchange Rate||348.4||0.0 %||Jul 31|
|Stock Market||0.1||0.0 %||Jul 31|
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Angola: Cabinda crude oil price inched down in July; Angolan production slumps to an over 12-year low
August 16, 2019
The average price of Angola’s Cabinda crude fell from USD 65.5 per barrel (pb) in June to USD 64.9 pb in July.
August 13, 2019
Consumer prices in the province of Luanda rose 1.5% in July from the previous month, accelerating from June’s 1.1% increase and marking the highest print so far this year.
July 26, 2019
At its 26 July meeting, the Monetary Policy Committee (MPC) of the National Bank of Angola (BNA) decided to keep the key policy rate at an over three-year low of 15.50%.
July 18, 2019
Growth slipped back into negative territory at the outset of the year, according to national accounts data released by Angola’s Statistical Institute (INE) on 18 July.
July 15, 2019
Consumer prices in the province of Luanda rose 1.1% in June from the previous month, unchanged from May’s reading.