Angola’s central bank raised its benchmark interest rate for the first time since October, Bloomberg reported.
The Luanda-based Banco Nacional de Angola raised the interest rate to 9.25 percent from 9 percent, it said in a statement on its website on Monday.
The bank also increased its standing lending facility rate to 10 percent from 9.75 percent.
Bloomberg reported that the move comes as inflation in Angola is accelerating and the country’s currency, the kwanza, is at a record low against the U.S. dollar.