Flash Note nº 10

Dear subscriber [name],

We are sending our most recent Flash Note.


  • ¬†The adjustment of the FPCL interest rate to 17.50% (+50bps) is a clear sign of a tighter monetary policy that the BNA has been adopting since the beginning of the Kwanza break;

  • We think interest rates on the IMM and Treasury bonds will rise a little more as a result of reduced liquidity in the market;

  • At a time when the market is very tight in terms of liquidity and the current macroeconomic environment demands higher levels of financial intermediation, the easing of the custody fee is opportune;

  • As for the next meeting scheduled for September 15, the CPM's decisions that go beyond the definition of the interest rate will depend on the course of monthly inflation, the evolution of the monetary base in LC and the evolution of the exchange market, which is in this This is the biggest challenge for the Central Bank.

Best regards,

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