Angola raises basic interest rate to 18 pct to curb inflation

LUANDA, Nov. 21 (Xinhua) -- Angola's central bank announced on Tuesday an increase in the basic interest rate to 18 percent from 17 percent in response to inflation.

According to a statement by the National Bank of Angola, the country also raised the mandatory reserve ratio in national currency to 18 percent, increased the interest rate of the Permanent Liquidity Facility to 18.5 percent, and adjusted the interest rate of the Permanent Liquidity Absorption Facility to 17.5 percent.