Angola follows African trend of holding rates in surprise decision


The National Bank of Angola has announced that the country’s policy rate will remain at 15.5%, following a trend of African countries holding rates this month.

In a statement released on July 26, the monetary policy committee said inflation has continued on a downward trend, reaching a year-on-year average of 16.9%.

African countries have largely chosen to hold rates throughout July, with South Africa being the only major economy to cut rates in the continent this month. Nigeria, Kenya, Egypt

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