Inflation changes basic interest rate

     Economy           
  • Luanda     Friday, 02 July De 2021    18h24  
Partial view of Luanda city
Partial view of Luanda city
Tarcísio Vilela - ANGOP

Luanda – The Monetary Policy Committee (CPM) of National Bank of Angola has decided to change the basic interest rate from 15.5% to 20% and with the marginal lending facility from 19.88 to 25%.

The decision was adopted at CPM session held Friday in Luanda, aimed to tackle the development of inflation indicators.

 

The session was initially scheduled for 29 July, but due to the recent evolution of inflation the BNA body decided to meet on Friday (July 02) to assess the situation and take corrective measures.   

 

Speaking at a press conference, the BNA governor, José de Lima Massano, said that the Committee also decided to increase the Interest Rate of Permanent Facility of the Liquidity Absorption of seven days from 12% to 15%.

 

But co-efficient of the mandatory reservations in national and foreign currency remained unchanged, 22%.

 

Lima Massano said the move is intended to reverse the course of the inflation and work on 19.5% goal by yearend.

 





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