Page 2 - May Angola News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Angola hikes rate in surprise move due to high inflation      Angola added its name to the growing number of central banks that are raising interest rates in response to a faster-than-expected rise in inflation by hiking its key interest rate by a sharp 450 basis points in its third move this year to tighten its monetary policy stance.      The Bank of Angola (BNA), one of the few central banks that kept interest rates steady last year as the COVID-19 pandemic swept the globe,  raised its basic interest rate by 450 basis points to 20.0 percent, its first rate hike since November 2017.     BNA also raised its Standing Liquidity Lending Facility rate to 25.0 percent from 19.88 percent and the rate on its 7-day Permanent Liquidity Absorption facility to 15 percent from 12 percent.

Standing liquidity lending facilityPermanent liquidity absorptionMay angola