Monday, July 27, 2015

Angola raises rate 50 bps as inflation rises further

    Angola's central bank raised its benchmark Basic Interest Rate (BNA) by another 50 basis points to 10.25 percent, its third rate hike this year, noting that the annual inflation rate rose further to 9.61 percent in June from 8.86 percent in the previous month.
     The National Bank of Angola, which has now raised its rate by 125 basis points this year, also raised the rate on its Standing Lending Liquidity Facility to 11.0 percent from 10.50 percent.
    The central bank added that preliminary data for June showed that credit to the economy grew by 5.56 percent in cumulative terms since the beginning of the year.



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