After GDP growth slowed to c. 1% in the second quarter, the National Bank of Angola's (BNA) ability to implement economic stimulus measures is severely limited by inflationary pressures and a negative trend in the oil and gas sector. At its JUL. meeting, the BNA's Monetary Policy Committee (CPM) kept all benchmark interest rates unchanged, despite pressure to reduce them as a stimulus measure, and again reduced the required reserve requirement (RMR) in local currency for the third time in 2025, by just 1 ppc, to 18%. READ MORE