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2023-07-21

Directive No. 08/2023 of July 19

The Bank of Angola, through its Markets Department and Monetary Policy Committee, has issued Directive No. 08/2023 to establish the nation's core monetary policy rates effective immediately upon publication. This directive fixes the Basic Interest Rate (BNA Rate) at 17.00% per annum, sets the Permanent Lending Facility rate at 17.50% per annum, and establishes the Liquidity Absorption Facility rate at 13.50% per annum. Additionally, it revokes the prior Directive No. 05/DME/2023 and reserves interpretative authority for the Bank of Angola to resolve any arising doubts or omissions.

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GOVERNOR DIRECTIVE NO. 08/2023 ORIGIN: MARKETS DEPARTMENT (DME) DATE 19/07/2023 SUBJECT: FINANCIAL SYSTEM

  • Basic Interest Rate (BNA Rate) and Rates of the Permanent Lending (FCO) and Liquidity Absorption Facilities - Notice No. 11/2012 and Notice 12/2012, both dated April 02 Whereas it is necessary to define the basic interest rate of the BNA, and the interest rates for the lending and liquidity absorption facilities, regulated under Notice No. 11/2012 and Notice No. 12/2012, both dated April 02; In accordance with the decisions of the one hundred and twelfth ordinary session of the Monetary Policy Committee, held on July 14 and 15, 2023; This Directive serves to establish the following:
  1. The Basic Interest Rate of the BNA (BNA Rate) is set at 17.00% (seventeen percent) per annum.
  2. The Interest Rate of the Permanent Lending Facility (FCO) is set at 17.50% (seventeen point five percent) per annum.
  3. The Interest Rate of the Permanent Liquidity Absorption Facility is set at 13.50% (thirteen point five percent) per annum.
  4. Doubts and omissions resulting from the interpretation and application of this Directive are resolved by the Bank of Angola.
  5. Directive No. 05/DME/2023, dated March 29, concerning the Basic Interest Rate and Permanent Lending and Liquidity Absorption Facilities, is hereby revoked.
  6. This Directive enters into force immediately. Luanda, July 19, 2023. MARKETS DEPARTMENT Tânia Patrícia de Oliveira Mendes Lopes -Director-
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