Caxito - Bengo province is to host the 116th ordinary meeting of the Monetary Policy Committee (CPM) of the National Bank of Angola (BNA) to take place on March 14 and 15.
The governor of the BNA, Manuel António Tiago Dias, has been in Caxito since Wednesday for a three-day visit as part of the meeting.
The BNA governor’s agenda includes visits to Fazendas Kabanguela and Nunes Carlos, two projects that have benefited from funding under BNA Notice 10/2022 on the modalities for granting credit to the real sector of the economy.
Manuel Dias said the Angolan financial system shows solid indicators, noting that the BNA has been working to make the banking institutions operating in the country to become more solid and capable of carrying out their role, especially with regard to financial intermediation.
He added that the BNA has been approving regulations that guide financial institutions to play a more active role in financial intermediation.
The CPM’s last meeting held in January 2024, decided to maintain the BNA Rate at 18%, the interest rate on the Permanent Liquidity Provision Facility at 18.5%, the interest rate on the Permanent Liquidity Absorption Facility at 17.5% and to increase the coefficient of mandatory reserves in national currency to 20% , with the aim to adjust the level of liquidity to economic activity and mitigate inflationary pressures.
The Monetary Policy Committee of the National Bank of Angola is the body responsible for formulating the country's monetary and exchange rate policy. CJ/IF/AMP
