Angola’s Central Bank to Introduce Benchmark Interest Rate
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The central bank of Angola, sub-Saharan Africa’s second-biggest oil producer, plans to introduce a benchmark interest rate in October, central bank Governor Jose de Lima Massano said.
A monetary policy committee, formed in August, will meet monthly to decide on the level of the rate, Massano told reporters in the capital, Luanda, today. Commercial banks have previously used domestic-bond yields and other financial instruments to set lending rates, he said. Massano didn’t give a date for the first meeting.