Monday, January 25, 2016

Angola postpones monetary policy meeting until Jan. 29

   Angola's central bank has postponed the meeting of its monetary policy committee until Friday, Jan. 29 from today's scheduled meeting, according to a statement by the National Bank of Angola (BNA).
   The BNA said the delay was due to the scheduled release of macroeconomic indicators and an analysis of monetary and foreign exchange markets.
    The BNA raised its benchmark Basic Interest Rate by 200 basis points in 2015, most recently in December when it was raised by 50 points to 11.0 percent.
    Angola's inflation rate accelerated to a 2015-high of 14.27 percent in December from 13.29 percent in November while the exchange rate of the kwanza was devalued by another 13 percent on Jan. 4 to around 155 per U.S. dollar from a rate around 135 that was in place since September.
    In June 2015 the BNA devalued the kwanza by 6 percent and tightened liquidity in September.
    Angola is Africa's second largest crude oil exporters and relies on oil exports for almost all its foreign exchange earnings.



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