Angola : the central bank lowers lending rate

Angola’s National Bank, a powerful financial institution © RR

Casablanca, (ADV) – The Central Bank of Angola (BNA) reduced its benchmark lending rate from 18 percent to 16.5 percent following the analysis of main macroeconomic indicators by the monetary policy committee meeting held Tuesday in the capital, Luanda.

A statement released Tuesday indicated that the central bank also lowered the reserve ratio from 19 percent to 17 percent.

In addition, a trend is expected for the reduction of the interest rates of credit in the economy, added the statement.

Since last December, Angola’s central bank interest rate had not experienced changes after having risen from 16 percent to 18 percent in November 2017.

The statement also said that the country’s Gross International Reserves in June 2018 stood at 17.5 billion U.S. dollars against 18.98 billion U.S. dollars in May 2018.

© Bur-csa – ADV