Saturday, May 30, 2015

Angola maintains rate as credit shrinks, inflation rises

    Angola's central bank maintained its benchmark Basis Interest Rate (BNAS) at 9.25 percent, citing a contraction in credit but accelerating inflation.
    The National Bank of Angola (BNA), which raised its rate by 25 basis points in March, said credit issued to the economy contracted by 0.24 precent in April but was still up by 1.95 percent in cumulative terms this year.
    Angola's consumer price inflation rate rose to an annual 8.23 percent in April from 7.87 percent in March, with a 0.36 percentage point rise in food and non-alcoholic beverages the largest contributor.
    The BNA, whose monetary policy committee met on May 29, added that the average exchange rate of the kwanza to the U.S. dollar depreciated by 1.21 percent in April from March, for a rate of 109.293 kwanza to the dollar.


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