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Africa Outlier Angola Cuts Key Rate for First Time Since 2019

  • Central bank lowers benchmark interest rate to 19.5% from 20%
  • Monetary authority sees inflation below 10% in medium term
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Angola’s central bank cut its benchmark interest rate for the first time in more than three years, bucking a global trend of monetary tightening.  

The monetary policy committee reduced the rate to 19.5% from 20%, Governor Jose de Lima Massano told reporters Monday in Luanda, the capital. That’s the MPC’s first cut since May 2019.