Angola Cuts Rates as Inflation Falls
Angola lowered its key lending rate by 100 basis points to 14.75 percent on Tuesday following a drop in inflation to single digits. The central bank also sharply raised its economic growth forecast for the year to 6.15 percent.
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Angola cut its key lending rate by 100 bps on Tuesday afternoon, lowering the policy rate to 14.75% from 15.75%. The move marks the third consecutive reduction by the central bank following a decline in inflation. Inflation in the Southern African oil producer eased to 8.78% year-on-year in August from 9.33% in July, reaching single digits for the first time in over a decade.
