Central Bank cuts rates in November

Bank reduces rates for a second consecutive time: At its final meeting of the year on 17–18 November, the National Bank of Angola (BNA) reduced its BNA basic reference rate from 19.00% to 18.50%, mirroring September’s decision and matching market expectations.

Decreasing inflation triggers cut: A further rate cut was motivated by headline inflation slowing in October, a trend that began in mid-2024 and during which price growth has almost halved. In addition, the Bank lowered its headline inflation projection from 17.5% to 17.0% and sees price pressures ending 2026 at 13.5%. Finally, the rate cut aimed to buttress economic activity, which posted a weak reading in Q3.

BNA to continue easing cycle in 2026: The vast majority of our panelists see more interest rate cuts by the end of next year, as inflation should continue easing. Crude prices remain key to monitor, given their impact on the kwanza. The Central Bank will reconvene on 13–14 January.

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Angolan interest rate projections for the next ten years from a panel of 6 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable interest rate forecast available for Angolan interest rate.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Angolan interest rate projections.

Want to get access to the full dataset of Angolan interest rate forecasts? Send an email to info@focus-economics.com.