Angola To Cut Interest Rates As Long As Inflation Is Low

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.<br />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.<br />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%.