Angolan central bank hikes again amid soaring inflation

angola-governor
Valter Filipe Duarte da Silva, new central bank governor

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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