Angola rate cut signals easing inflation, steadier outlook for oil producer

• Central bank delivers largest rate cut since 2023 at 17.5%
• Inflation nearly halves, growth outlook improves

LUANDA, ANGOLA – Angola’s central bank cut its benchmark interest rate by 100 basis points, citing sharply slowing inflation and steadier domestic conditions as Africa’s second-largest oil producer presses ahead with monetary easing.

After its first Monetary Policy Committee meeting of the year, the National Bank of Angola (BNA) reduced the BNA Rate to 17.5% from 18.5%. It also cut the permanent liquidity provision facility rate to 18.5% from 19.5%, while keeping the liquidity absorption rate unchanged at 16.5%.