Angola’s Central Bank Cuts Overnight Rate to 18% From 21.94%
Angola’s central bank cut its overnight lending rate by 3.94 percentage points, a month after the appointment of a new governor.
The rate was lowered to 18 percent from 21.94 percent, the Luanda-based Bank of Angola said on its website today. It didn’t provide reasons for the cut.
Last month, Angolan President Jose Eduardo dos Santos appointed Jose de Lima Massano as governor of the bank, replacing Abraao Gourgel, who was named head of a newly created economy ministry. On Nov. 10, the bank cut its rediscount rate, the rate that the central bank charges commercial lenders to borrow money, to 25 percent from 30 percent.
Angola’s inflation rate rose to 16 percent in October from 15.7 the month before, the National Statistics Institute said.
To contact the reporter on this story: Candido Mendes in Luanda, Angola at cmendes6@bloomberg.net.
To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net.
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