Monday, May 2, 2011

Angola Central Bank Cuts Reserve Requirements 500bps

The Banco Nacional de Angola reduced its required reserve ratio for commercial banks by 500 basis points to 20% from 25% previously.  The move is intended to increase the amount of liquidity in the system and boost lending.  The measure will come into effect from the 9th of May, and reserves can be kept in Angola's domestic currency (Kwanza) or foreign currency.


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