Money in Angola
Angola - Money
Central Bank stands pat in September
At its 30 September meeting, the Monetary Policy Committee of the National Bank of Angola decided to leave all its monetary policy instruments untouched. Consequently, the basic reference rate remained at 20.00%, the standing liquidity lending facility at 25.00%, the seven-day permanent liquidity absorption facility interest rate at 15.00%, and the coefficients of required reserves at 22.00%.
In deliberating its decision, the Bank noted robust credit growth in the economy, which should support activity ahead, and seemingly deemed higher inflation to be of a transitory nature. The Bank stated that Angola “continued to record inflationary pressures, following the trend that has been observed in the rest of the world”, with the monthly reading “mainly driven by the food and non-alcoholic beverages class”. Moreover, the Bank noted that consumer prices have increased at a relatively stable rate of around 2.0% every month, suggesting benign core price pressures. The Bank expects inflation to average 27.00% in 2021.
The Bank once again did not include clear forward guidance regarding future interest rate decisions. The majority of panelists participating in the FocusEconomics Consensus Forecast see the key policy rate ending 2021 at 20.00%. However, as inflation is forecast to moderate next year and beyond, panelists expect the Bank to embark on an easing cycle next year to support economic activity in the wake of a multi-year recession.
The next monetary policy meeting is scheduled for 30 November.
FocusEconomics panelists project the policy rate to end 2022 at 17.60% and 2023 at 16.38%.
Angola - Money Data
|Money (annual variation in %)||11.8||14.4||4.1||20.4||30.2|
5 years of economic forecasts for more than 30 economic indicators.
|Exchange Rate||479.0||0.0 %||Jan 01|
|Stock Market||0.1||0.0 %||Jan 07|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
October 13, 2021
Cabinda oil prices came in at USD 74.5 per barrel (pb) on average in September, up from USD 70.9 pb in August.
October 12, 2021
Luanda-province consumer prices rose 2.34% in September over the previous month, largely in line with the 2.30% rise logged in August.
October 11, 2021
The economy returned to growth in the second quarter for the first time since Q2 2019, with GDP expanding 1.2% year-on-year and swinging from the first quarter’s 3.4% contraction.
October 11, 2021
Economic sentiment continued its upward trend in the second quarter; however, confidence remained encapsulated by pessimism as the sentiment index rose to minus 6 from minus 9 in the first quarter.
September 30, 2021
At its 30 September meeting, the Monetary Policy Committee of the National Bank of Angola decided to leave all its monetary policy instruments untouched.