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Angola’s Central Bank Delays Interbank Rate Plans, O Pais Says

By Candido Mendes - 2011-10-17T17:40:05Z

Angola’s central bank delayed plans to introduce an average interbank lending rate to next month, O Pais reported, citing Fernando Joao Fonseca, vice president of Banco Keve, a commercial lender in the southern African nation.

Banco Nacional de Angola, as the central bank is known, will in November introduce a 30-day Luanda Interbank Offered Rate, or Luibor, and in January start a 6-, 9- and 12-month Luibor, the newspaper cited Fonseca as saying.

A spokesperson for the bank declined to immediately comment when reached by phone today.

To contact the reporter on this story: Candido Mendes in Luanda via Johannesburg at cmendes6@bloomberg.net.

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net.