{"id":24169,"date":"2011-09-30T05:38:00","date_gmt":"2011-09-30T09:38:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/2011\/09\/30\/angola-central-bank-to-introduce-new-benchmark-interest-rate\/"},"modified":"2011-09-30T05:38:00","modified_gmt":"2011-09-30T09:38:00","slug":"angola-central-bank-to-introduce-new-benchmark-interest-rate","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/09\/30\/angola-central-bank-to-introduce-new-benchmark-interest-rate\/","title":{"rendered":"Angola Central Bank to Introduce New Benchmark Interest Rate"},"content":{"rendered":"<p><span>The&nbsp;<a href=\"http:\/\/www.bna.ao\/\">Banco Naconal de Angola<\/a>&nbsp;(BNA)&nbsp;has announced plans to introduce a new benchmark interest rate in October this year. &nbsp;The BNA had previously formed a new monetary policy committee in August, and the committee will meet monthly to set the new rate; much in line with global practices. &nbsp;The BNA also plans to introduce a Luanda Interbank Offered Rate (Luibor) according to <a href=\"http:\/\/www.bloomberg.com\/news\/2011-09-29\/angola-s-central-bank-to-introduce-benchmark-interest-rate-1-.html\">Bloomberg<\/a>. &nbsp;Central bank governor, Jose de Lima Massano, said the efforts will &#8220;preserve the value of the national currency and the stability of prices in the economy&#8221;.<\/span><\/p>\n<div><span><\/span><br \/><a name='more'><\/a><\/div>\n<div><span>Previous monetary policy moves from the BNA include a 500 basis point cut to the <a href=\"http:\/\/www.centralbanknews.info\/2011\/05\/angola-central-bank-cuts-reserve.html\">required reserve<\/a> ratio (from 25% to 20%), and a 500 basis point cut to the <a href=\"http:\/\/www.centralbanknews.info\/2011\/04\/angola-central-bank-cuts-rate-500bps-to.html\">rediscount rate<\/a> (also from 25% down to 20%) earlier this year. &nbsp;Angola reported annual inflation of 13.7% in August, compared to 14.1% in July. &nbsp;According to IMF data Angola&#8217;s economy grew 7.06% in 2010 and recorded annual average inflation of 15.04% and full year inflation of 13% last year. &nbsp;Angola reported exports of US$52 billion in 2010, driven by oil earnings as Angola is Africa&#8217;s second largest oil producer. &nbsp;Angola recently had its sovereign credit rating upgraded to BB- by Standard &amp; Poor&#8217;s.<\/p>\n<p><a href=\"http:\/\/www.centralbanknews.info\/\">www.CentralBankNews.info<\/a><\/span><\/div>\n<div><img loading=\"lazy\" decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/blogger.googleusercontent.com\/tracker\/8290544642025682538-8222045152663631099?l=www.centralbanknews.info\" alt=\"\" \/><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The&nbsp;Banco Naconal de Angola&nbsp;(BNA)&nbsp;has announced plans to introduce a new benchmark interest rate in October this year. &nbsp;The BNA had previously formed a new monetary policy committee in August, and the committee will meet monthly to set the new rate; much in line with global practices. &nbsp;The BNA also plans to introduce a Luanda Interbank &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2011\/09\/30\/angola-central-bank-to-introduce-new-benchmark-interest-rate\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Angola Central Bank to Introduce New Benchmark Interest Rate&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-24169","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/24169","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=24169"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/24169\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=24169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=24169"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=24169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}