Monday, December 23, 2013

Angola holds rate, cites trend in economic indicator

    Angola's central bank kept its policy rate steady at 9.25 percent, citing "the favorable trend observed in the economic climate indicator."
    The National Bank of Angola, which has cut rates three times this year by a total of 100 basis points, also said the exchange rate of the kwanza had remained stable, credit to the economy had risen by 6.78 percent since the start of the year while the average interest rate of loans issued was 14.19 percent.
    Angola's inflation rate fell further to 7.94 percent in November from 8.38 percent October, setting a new low for the year.


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