Luanda: The Monetary Policy Committee has lowered the benchmark interest rate from 17 percent to 15.75 percent, Manuel Tiago Dias, Governor of the National Bank of Angola (BNA), announced today in Malanje. Speaking at a press conference following the conclusion of the Committee's 130th meeting held on the 13th and 14th of this month in Malanje, the Governor noted that the interest rate for the permanent liquidity provision facility was also reduced from 18 percent to 16.75 percent, and the rate for the permanent liquidity absorption facility from 16 percent to 14.75 percent.
According to Angola Press News Agency, Manuel Tiago Dias emphasized that the decision to ease policy rates is based on the observed consistent slowdown in inflation, as well as the outlook for maintaining this downward trajectory in the short term. Regarding the international landscape, he acknowledged that the scenario remains characterized by significant uncertainty, particularly due to tensions in the Middle East, with factors that continue to affect financial markets, strain global supply chains, and maintain pressure on global inflation.
He noted that the International Monetary Fund (IMF) has revised its global economic growth projection for 2026 downward, lowering the rate from 3.1 percent to 3 percent, while simultaneously revising its global inflation estimate upward to 4.7 percent. He added that, in the energy commodities market, the average price of a barrel of Brent crude oil saw a sharp decline of 18.72 percent, falling from 104 US dollars in May to 84.56 dollars in July of this year. It was highlighted that this depreciation follows negotiations between the United States and Iran, which are fueling prospects for the normalization of the oil supply chain through the Strait of Hormuz.
The 130th meeting of the BNA's Monetary Policy Committee, held in Malanje, assessed recent developments in the national and international economies, as well as macroeconomic outlooks and risks to price stability.
