Angola Inflation, Growth Worries Point to Close Rate Call [BNN Bloomberg (Canada)]
ABSA GROUP LTD S/ADR (AGRPY)
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Source: BNN Bloomberg
Four economists surveyed by Bloomberg were evenly split on whether the monetary policy committee will act or show patience after inflation hit a 21-month high of 24% in February. Two economists, including from Absa Group Ltd., predict the central bank will increase the benchmark rate by 100 basis points to 19% after keeping rates unchanged at a previous meeting in January. That would take rates to the highest level in 15 months. The other two forecast the policy benchmark will remain unchanged. Central Bank Governor Manuel Tiago Dias has said that officials were waiting to see if their decision to raise rates in November by 100 basis points to 18% would be enough to tame inflation. Yet price pressures, which mounted in 2023 following a sharp depreciation of the kwanza and a government decision to phase out fuel subsidies, have remained strong. Angola Finance Minister Vera Daves de Sousa said Tuesday the country remains committed to putting an end to fuel subsidies. What Blo
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