Angolan Central Bank Leaves Benchmark Rate Unchanged

The central bank of Angola, Africa’s biggest oil producer after Nigeria, kept its benchmark interest rate unchanged for a 10th consecutive month.

The key lending rate was left at 10.25 percent, the Luanda- based Banco Nacional de Angola said in an e-mailed statement today. The bank has cut the rate once since introducing it in October 2011, lowering it by a quarter of a percentage point in January.

Inflation rose to 9.8 percent in October from 9.7 percent a month earlier, the statistics office said on Nov. 13. Inflation fell from 11.5 percent in January as the southwest African country targets a rate of less than 10 percent this year.

The MPC was created to help improve financial management after the country secured a loan from the International Monetary Fund in 2009.

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

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

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