Angolan central bank hikes again amid soaring inflation
Inflation breaches 20% in February prompting bank to raise interest rates to 14%
The Central Bank of Angola raised interest rates by 200 basis points to 14% at its latest meeting, it said on March 29, citing soaring inflation as a major concern.
Inflation is a far cry from the bank's target of 7–9%, rising to 20.26% in February. Weaker oil prices and the depreciating currency are the main pressures contributing to inflation; the kwanza has lost almost 17% of its value against the US dollar since the start of the year.
The International Monetary Fund, in its latest article IV
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