National bank of angola
Angola’s central bank held its main policy rate steady at 10.0 percent as inflation continued to drop and the exchange rate remained stable.
The National Bank of Angola (BNA), which cut its rate by 25 basis points in January, said the monthly inflation rate in April was 0.6 percent, down from 0.66 percent in March, for an annual rate of 9.0 percent, down from 9.1 percent.
The BNA has for many years strived for an inflation rate below 10 percent and since August 2012 inflation has remained below that level.
The central bank also said credit to the economy rose by 0.18 percent in April and the average interest rate on credit of 181 days in local currency rose to 12.53 percent for retailers and declined to 13.7 percent for the corporate sector.
The average exchange rate for the kwanza against the U.S. dollar was 96.045 at the end of April compared with 95.98 at the end of March. During April the central bank sold US $1,980 million to the market for a total of $6,232 million in the first four months.
In 2012 Angola’s economy grew by 7.4 percent and the International Monetary Fund projects growth of 6.2 percent this year.
National Bank of Angola website : http://www.bna.ao/
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Angola’s central bank kept its main policy rate, the BNA rate, steady at 10 percent but cut the rate on its standing liquidity absorption facility to 1.0 percent from 1.25 percent.
The National Bank of Angola (BNA), which last cut its BNA rate by 25 basis points in January after a similar cut in 2012, did not give a reason for cutting the standing liquidity rate.
Angola’s inflation rate rose slightly to 9.11 percent in March from 9.04 percent in February with the largest price change seen in the category for food and non-alcoholic beverages, rising by 0.84 percent in the month and accounting for 58.24 percent of the change in the overall inflation rate.
The BNA said credit to the economy rose by 1.34 percent, the average exchange rate of the Kwanza to the U.S. dollar was stable at 95.98 at the end March while the central bank sold $1,445 million of foreign exchange to the market during March for a total $4,252 million in the first quarter of 2013.
This entry was posted in Banking , Central Banks ,Monetary Policy , Interest rate, Business , Economic and finance related Information , Knowledge & Training, Business , Economic and Financial News, Currency , Currency News , Forex and tagged Angola central bank, Gdp, Gross Domestic product, inflation, kwanza currency, monetary policy, National bank of angola.