21 December 2012

Angola: Monetary Policy to Prioritize Slowing Down of Inflation Rate

Luanda — The governor of the Angolan National Reserve Bank (BNA), José de Lima Massano, said on Friday in Luanda that the monetary policy of the country will prioritize the slowing down of inflation rate, whose objective of the state budget draft is estimated at 9 per cent.

José de Lima Massano said so during the year-end greetings ceremony with entities of the sector.

According to him, it is intended to increase the efficiency of mechanisms of transmission of monetary policy.

He said that the commitment of BNA is to work hard so that in medium term the interest rate may be the main instrument of monetary policy and inflation rate at nominal resource for the formation of expectations of economic agents.

So, the governor said that BNA will continue with the gradual implementation of the system of flexible inflation goals, consolidating the new operational framework for monetary policy.

He said that as from July 2013, the payments of oil sector in the domestic market will be paid exclusively in Angolan kwanzas, which will be one more step for the valorization of the national currency.

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