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Tue, 30 Oct 2012 13:10 - Updated Tue, 30 Oct 2012 13:10

BNA assesses evolution of country's monetary and financial economy


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Luanda – The monthly inflation rate was 0,55% in September, with the inflation in the last twelve months reached 9,65%, ANGOP learnt this Tuesday from Angola National Reserve Bank (BNA)’s Political Monetary Committee (CPM).

According to a press release divulged at the end of the 13th ordinary session, “the services like Food and Non-Alcoholic Drinks”, “Hotels, Café and Restaurants, “Clothes and Shoes”, “Health” and “Goods as well as Various Services”, are those which registered higher variation of prices in September of 2012.

Interest rates remained stable throughout the month of September, reads the statement of the CPM.

The average exchange rate reference for Kwanza, in relation to the U.S. dollar, stood at 95.42% at the end of September 2012, reflecting the stability observed since the beginning of the year.

However, the Monetary Policy Committee of the National Reserve Bank of Angola decided to maintain the Basic Rate Interest - BNA rate, at 10.25% per year and the interest rates on the Standing Lending Facility and Liquidity Absorption at 11.50 % and 1.50% per year, respectively.

The CPM supports its decision based "on pooled analysis of macroeconomic indicators, which includes recent developments and prospects for the economies of Angola, the SADC region and internationally."