Angola Interest Rate
Central Bank stands pat in July
On 14 July, the Monetary Policy Committee of the National Bank of Angola (BNA) held the key interest rate at 17.00%. It also left the standing liquidity absorption facility rate at 13.50% but decided to raise the standing liquidity facility rate to 17.50% from 17.00%.
The BNA decided to hold its key policy rate unchanged due to the resurgence of price pressures—inflation rose in May and June after declining for fifteen consecutive months. The Bank highlighted two factors behind this reversal. First, an exchange rate depreciation in recent months was spurred by dwindling export earnings; falling oil revenues amid lower crude output and prices prompted the Angolan treasury to stop intervening in FX markets in April–May. Second, higher inflation expectations arose from the phasing out of fuel subsidies from June onwards.
The Bank’s forward guidance remained muted, but reiterated its commitment to achieving single-digit inflation in the medium term. Our panelists expect the BNA to hike rates by year-end.
The next monetary policy meeting is scheduled for 14–15 September.
Angola Interest Rate Chart
This chart displays Policy Interest Rate (%) for Angola from 2013 to 2022.
Angola Interest Rate Data
| 2018 | 2019 | 2020 | 2021 | 2022 | |
|---|---|---|---|---|---|
| BNA Basic Reference Rate (%, eop) | 16.50 | 15.50 | 15.50 | 20.00 | 19.50 |