The central bank governor Jose De Lima Massano says Angola will keep cutting interest rates as long as inflation is kept low, forecasting that inflation will fall to 16% this year and 9-10% by the end of 2023.
De Lima Massano says they have interest rates in Angola above 20%. So those are too high. And if we have room to keep on reducing them, we’ll do it.
Angola has started to lower interest rates, delivering a rate cut in September for the first time since 2019, by 50 basis points to 19.5%.