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Angola Set for First Successive Rate Hike in Almost a Decade: Day Guide
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Angolaâs central bank unexpectedly increased its benchmark interest rate to a record high to curb inflation.
The monetary policy committee hiked the rate to 20% from 15.5%, Governor Jose de Lima Massano told reporters Friday in Luanda. The last time it raised the benchmark was in November 2017.
The meeting that was originally due to take place on July 29 was moved forward because of the recent âevolution of the main indicators, especially inflation,â said Massano. The rise in the rate was aimed at tempering the trajectory of price growth, he said.