Angola Surprises by Holding Interest Rates as Inflation Soars

Angola’s central bank unexpectedly kept its key interest rate unchanged for a second successive meeting even as it expects recent currency weakness to drive up inflation.

At its first meeting presided over by newly appointed Governor Manuel Tiago Dias, the bank’s monetary policy committee decided to maintain the benchmark rate at 17%. The governor said the decision was taken as the “resurgence of inflationary pressures is due to changes in the macroeconomic framework and currency depreciation.”