The central bank of Angola raised its main interest rate by 2 percentage points this week to curb soaring inflation, financial news agency Bloomberg reported.

The benchmark interest rate was increased to 14 percent from 12 percent, while the standing lending facility rate rose to 16 percent from 14 percent, the bank said in a statement on Tuesday. The new interest rate is at the highest level for at least three years, Bloomberg said.

The latest move of the central bank was in response to rising consumer prices. Inflation in February accelerated to 20.3 percent, up by 2.9 percentage points from the previous month, driven by higher domestic fuel prices and a weak currency, the report said.

The kwanza, Angola’s currency, has depreciated 17 percent against the U.S. dollar since the start of the year, Bloomberg reported.