Angola’s central bank left its benchmark interest rate unchanged at 10.5 per cent, saying at monthly review of its monetary policy that inflation was in line with the government’s target.
The central bank introduced the benchmark rate last month to help the economy attain price stability.
It was also to boost household savings and guide monetary policy by serving as a reference point for commercial banks when setting their own rates.
Angola wants to cut consumer inflation to 12 per cent this year.
The central bank said that the drop in year-on-year inflation to 11.44 per cent in October from 11.9 per cent in September shows government was able to meet the goal. (Reuters/NAN)
Source : Leadership