The governor of the Angola Reserve Bank Banco Nacional de Angola (BNA), José de Lima Massano, believes that the Angolan economy is continuing to “show positive signs of stability,” which is making it possible to maintain the prices of the main consumer goods.
Massano, who was speaking to the press at the end of the meeting of the BNA Monetary Policy Committee in Cabinda, said that, despite the uncertainty and volatility of the world economy, it was necessary to be prudent in conducting monetary policy , keeping the base interest rate at 20 percent, with a reduction of the interest rate on the Permanent Cash Transfer Facility from 25 to 23 percent.
According to the governor of the BNA, the Monetary Policy Committee also recommended maintaining the interest rate on the Permanent Liquidity Absorption Facility at 15 percent and reducing the mandatory reserve ratio of the national currency from 19 to 17 percent, as announced at the previous session held in Lubango.
Lima Massano gave assurances that the adjustment of the active rate, associated to the reduction of sufficient reserve requirements, would contribute to easing the costs of financial intermediation, without, however, changing the downward trend of inflation observed in the country since the beginning of the current year.
08/02/2022
