The Angolan central bank has raised its main interest rate to 18 percent from 16 percent to curb consumer price inflation, Macauhub reports.

The Macau news website says the monetary policy committee of the central bank has also lifted the obligation of Angolan commercial banks to set up currency reserves for buying foreign currency from the central bank.

The report quotes the central bank as saying these measures are meant to rein in “high levels of accumulated inflation”.

The annual rate of consumer price inflation in Angola accelerated to 28.96 percent in October from 27.46 percent in September, Macauhub says.