Angola's central bank left its benchmark BNA rate at 16.0 percent, noting the slowdown in August inflation due to an increase in the supply of food and restrained demand.
The National Bank of Angola (BNA), which has raised its rate by 500 basis points this year in an effort to curb inflation, encourage savings and reduce the need for foreign exchange, added that it had also taken note of the deceleration in money supply.
Angola's monthly inflation rate in August eased to 3.30 percent from July's 4.04 percent but on an annual basis it accelerated to 38.18 percent in August from 35.3 percent in July.
The BNA said the restricted monetary base grew by 1.91 percent in August and while money supply was up by an annual 22.17 percent, in real terms it represented a contraction.
Angola is suffering from an acute shortage of foreign exchange due to the fall in crude oil prices and the central bank has devalued the kwanza several times in the last year.
Today the kwanza was trading at 165.7 to the U.S. dollar compared with 135.2 at the start of the year.
The National Bank of Angola issued the following statement: