Angola: Apex Bank retains benchmark interest rate

Jan 10, 2017

Interest rate was retained to ensure price stability in the economy

In the last meeting of the Monetary Policy Committee held December 22, 2016, the National Bank of Angola has retained the benchmark interest rate at 16 percent. In a similar vein, the Monetary Committee also retained the marginal lending facility at 20 percent and 7-day liquidity absorption facility at 7.25 percent respectively. These decisions were disclosed in a press statement which contained outcome of the Committee's meeting. The Committee also noted a surge in inflation rate in November 2016, rising to 2.13 percent from 1.79 percent in the previous October 2016. The Bank's Monetary Policy Committee decided to retain the benchmark rate in order to stabilize price in Angola's economy. It charged economic stakeholders to contribute to overall price stability in the economy.