Luanda: The National Bank of Angola (BNA) expects that the reduction in its interest rates will also be reflected in lower interest rates for commercial banks and in transactions with their clients, said the institution's governor, Manuel Tiago Dias, on Friday.
According to Angola Press News Agency, the BNA's perspective aims, essentially, to strengthen the interaction between banks and clients, with emphasis on reducing interest rates and commissions associated with credit and the credit profit margin. This approach is intended to stimulate banking inclusion and enhance the capacity of commercial banks to finance productive sectors such as industry, agriculture, and commerce.
In Angola, the average interest rates of commercial banks vary greatly depending on the type of product. The historical average bank lending rate was around 18.02% until 2025, while the effective rates of banks, such as 7.18% per month, depend on the client's risk and the type of credit, with lower rates for secured products and higher rates for personal credit.
According to Manuel Tiago Dias, the reduction in commercial bank rates also serves to signal the new direction of the country's economic activity, which has been registering a positive trajectory. Speaking at the balance and perspectives of Monetary and Exchange Rate Policy to economic agents, representatives of the financial system, and academia, the governor highlighted the growth of the Gross Domestic Product (GDP) of around 2.6% in 2025. For this year (2026), he said, the BNA forecasts growth in Angolan economic activity to 3.5%.
He recalled that the 4.3% growth in the non-oil sector positively impacted the reduction in the unemployment rate, in addition to the slowdown in inflation, which fell from 27.5% to 15.7% last year. Among the factors that determined the fall in inflation, the BNA governor said is the increase in the supply of goods, essentially produced in Angola, with a positive contribution from agriculture and the manufacturing industry.
He also highlighted the exchange rate stability observed in the past year, with currency sales standing at 12 billion US dollars. Regarding the indicators achieved in 2025, the central bank governor highlighted the control of liquidity in circulation in the economy, a fundamental prerequisite for achieving low inflation rates. He recalled that the monetary base grew moderately by about 4.4%, while the means of payment in national currency registered growth in line with the inflation observed in the year.
The official reiterated that the National Bank of Angola forecasts inflation of 13.5% for this year, maintaining its medium-term objective of achieving single-digit inflation by 2027. The review and outlook session on Monetary and Exchange Rate Policy took place two days after the 127th Meeting of the Central Bank's Monetary Policy Committee, in which it was decided to reduce the basic interest rate from 18.5% to 17.5%. It was also decided to reduce the interest rate on the Permanent Liquidity Lending Facility from 19.5% to 18.5%, and to maintain the interest rate on the Permanent Liquidity Absorption Facility at 16.5%.
