Thursday, November 3, 2016

Angola maintains rate, says inflation trending lower

   Angola's central bank left its key rate, the BNA rate, at 16.0 percent, saying it had taken note of the "trend of price deceleration in the economy and the prospect of maintaining exchange rate stability."
    The National Bank of Angola (BNA) has raised its rate by 500 basis points this year to curb inflation.
    In September Angola's monthly inflation rate was 2.14 percent, down from 3.30 percent in August, with the BNA attributing this to increased supply of food and lower demand.
    On an annual basis, September inflation accelerated to a 2016-high of 39.44 percent from 38.18 percent.
    During September credit to the economy rose by 0.80 percent, the BNA said, adding that gross credit to the central government rose 0.18 percent while deposits by the government in the banking system contracted by 1.80 percent.


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