Economics

Angola Hikes Key Rate to Record High to Contain Inflation

MPC increases benchmark interest rate to 20% from 15.5%
Luanda inflation of 28% was at a near-four year high in May

Angola's central bank in Luanda. — Angola's central bank in Luanda.
Photographer: Simon Dawson/Bloomberg

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By Candido Mendes and Henrique Almeida

July 2, 2021 at 9:43 AM EDT

Updated on

July 2, 2021 at 1:14 PM EDT

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Angola’s central bank unexpectedly increased its benchmark interest rate to a record high to curb inflation.

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Before it’s here, it’s on the Bloomberg Terminal