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The Star
3 days ago
- Business
- The Star
Angola central bank reaffirms goal of lowering inflation to 17 pct
LUANDA, June 10 (Xinhua) -- The National Bank of Angola (BNA) said Tuesday that its projection to lower inflation to 17 percent by the end of 2025 remains unchanged, reducing the inflation rate by 10 percentage points compared to the end of 2024. Speaking at the presentation of the study "Banking in Analysis 2025," BNA Governor Manuel Tiago Dias said the inflation rate is currently at 22 percent. Dias said that successive declines in the indicator signaled economic recovery and the effectiveness of the adopted monetary policy measures. He also said that the future of the Angolan banking sector will be built on innovation, responsibility, and the contribution of all. According to the National Institute of Statistics of Angola, the national Consumer Price Index (CPI) recorded a month-on-month increase of 1.34 percent in April 2025, representing a deceleration of 0.04 percentage points compared to the previous month. On a year-on-year basis, the CPI rose by 22.32 percent, which is 5.89 percentage points lower than in April 2024.
Reuters
21-05-2025
- Business
- Reuters
Angola holds key rate for sixth straight meeting
LUANDA, May 21 (Reuters) - Angola's central bank kept its main interest rate unchanged for the sixth meeting in a row on Wednesday, citing global economic uncertainty despite a slowdown in domestic inflation. The Bank of Angola has maintained its key lending rate (AOINTR=ECI), opens new tab at 19.50% since May last year. The central bank has kept policy tight to try to rein in inflation, which has been gradually declining but was still at more than 22% in annual terms in April (AOCPIY=ECI), opens new tab. Angola hopes to transition to an inflation-targeting framework, opens new tab, which would involve setting a specific inflation target to guide monetary policy. Governor Manuel Tiago Dias said the central bank was for now sticking to its forecast that inflation would end the year at 17.5%. "When we look at inflation up to April, we see that there has been a fairly substantial year-on-year reduction. Our projections for May and June indicate that we will probably see a (continued) downwards trend in inflation," he told a press conference. Last week the International Monetary Fund cut Angola's preliminary growth outlook for 2025 to 2.4% from an initial 3%, citing lower prices of oil and tightening external financing conditions.
