Angola's central bank raises key interest rate to 9.25 pct - CNBC Africa

Angola's central bank raises key interest rate to 9.25 pct

Financial

by Reuters 0

Angola's central bank raises key interest rate to 9.25 pct.

Angola's central bank raised its benchmark lending rate on Monday by 25 basis points to 9.25 percent, the first change to interest rates in Africa's second-biggest oil producer since October.

(READ MORE: Angola’s credit rating supported by robust economic growth)

On Friday, Fitch affirmed Angola's credit rating at BB- and revised its outlook to negative, citing the sharp drop in oil prices since last July, which it said was likely to result in a sharp drain on reserves, weaker economic growth and rising debt.

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