Monday, April 29, 2013

Angola holds key rate steady, cuts liquidity rate 25 bps

    Angola's central bank kept its main policy rate, the BNA rate, steady at 10 percent but cut the rate on its standing liquidity absorption facility to 1.0 percent from 1.25 percent.
    The National Bank of Angola (BNA), which last cut its BNA rate by 25 basis points in January after a similar cut in 2012, did not give a reason for cutting the standing liquidity rate.
    Angola's inflation rate rose slightly to 9.11 percent in March from 9.04 percent in February with the largest price change seen in the category for food and non-alcoholic beverages, rising by 0.84 percent in the month and accounting for 58.24 percent of the change in the overall inflation rate.
    The BNA said credit to the economy rose by 1.34 percent, the average exchange rate of the Kwanza to the U.S. dollar was stable at 95.98 at the end March while the central bank sold $1,445 million of foreign exchange to the market during March for a total $4,252 million in the first quarter of 2013.


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