Angola Central Bank Keeps Benchmark Interest Rate at 9.75

The central bank of Angola, Africa’s biggest crude producer after Nigeria, held its benchmark interest rate as inflation was little changed.

The key lending rate was maintained at 9.75 percent, the Luanda-based Banco Nacional de Angola said in a statement on its website today. The bank lowered the rate by a quarter of a percentage point in August for the first time in seven months, only the second cut since it was introduced in October 2011.

Inflation in August eased to 8.97 percent from 9 percent in the previous month, the National Statistics Institute said on Sept. 11.

To contact the reporter on this story: Colin McClelland in Luanda at cmcclelland1@bloomberg.net

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

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