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Angola Set for First Successive Rate Hike in Almost a Decade: Day Guide bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Angola Hikes Benchmark Interest Rate as Central Bank Attempts to Tame Rising Inflation The Angolan central bank’s monetary policy committee (MPC) recently hiked the country’s benchmark interest rate from 15.5% to a record of 20%. The largely unexpected hike, which is one of the National Bank of Angola (NBA)’s attempts to curb inflation, marks the first time the benchmark rate has been increased since November 2017. Rising Inflation a Threat to Angola’s Growth According to a Bloomberg report, the MPC was compelled to bring forward the meeting that ultimately sanctioned the rate hike due to an “evolution of the main indicators.” These indicators, according to the NBA governor, Jose de Lima Massano posed a threat to Angola’s growth trajectory. He explained: ....
Jul 03 2021, 12:22 AM July 02 2021, 7:13 PM July 03 2021, 12:22 AM (Bloomberg) Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. (Bloomberg) Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. Angolaâs central bank unexpectedly increased its benchmark interest rate to a record high to curb inflation. The monetary policy committee hiked the rate to 20% from 15.5%, Governor Jose de Lima Massano told reporters Friday in Luanda. The last time it raised the benchmark was in November 2017. The meeting that was originally due to take place on July 29 was moved forward because of the recent âevolution of the main indicators, especially inflation,â said Massano. The rise in the rate was aimed at tempering the trajectory of price growth, he said. ....