The National Bank of Angola (BNA) Monetary Policy Committee cut the BNA rate by 100 basis points to 14.75%, citing progress in disinflation and the short- and medium-term inflation outlook. The rate has fallen 475 basis points from 19.5% since September 2025. The BNA also lowered its liquidity facility rates by 100 basis points, setting the absorption and provision rates at 13.75% and 15.75%, respectively, and reduced the domestic-currency reserve requirement to 16.5%. Annual inflation slowed to 8.78% in August, and the central bank maintained its end-2026 forecast at 8.6%, within a one-percentage-point range. Second-quarter gross domestic product grew 8.74% year on year, led by non-oil activity, prompting the BNA to raise its 2026 growth forecast to 6.15%, while domestic-currency credit expanded 11.72% year on year. International reserves stood at USD 15.32 billion, covering 6.59 months of goods and services imports, while the cumulative goods-account surplus reached USD 13.55 billion through August. The global economy remained resilient, though geopolitical tensions increased commodity-market volatility, with Brent crude averaging USD 88.07 per barrel in August.
2026-09-15National Bank of Angola
National Bank of Angola Cuts Policy Rate by 100 Basis Points to 14.75%
The National Bank of Angola (BNA) cut its policy rate by 100 basis points to 14.75%, lowered liquidity facility rates to 13.75% and 15.75%, and reduced the domestic-currency reserve requirement to 16.5%. Annual inflation slowed to 8.78% in August, while the BNA maintained its end-2026 inflation forecast at 8.6% and raised its 2026 growth forecast to 6.15%.