Flash Note N.º 9/2025

Dear subscriber [name],

Please find attached our most recent Flash Note:

Highlights:

- The deceleration in price levels led the Monetary Policy Committee (MPC) of the Central Bank (BNA), in its most recent meeting, to decide to ease the instruments used to conduct monetary policy:

- In a context where year-on-year inflation has been consistently declining, approaching BNA's target of 17.5% at the end of the year - and already falling below two key policy rates -, MPC decided to lower the reference rates;

- The Central Bank’s decisions depend largely on the evolution of inflation, which has shown clear signs of deceleration since late 2024.

Best regards,
BFA

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