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Angola central bank cuts key rate by 50 basis points

BY Reuters | ECONOMIC | 10:24 AM EDT

LUANDA, May 14 (Reuters) - Angola's central bank cut its benchmark lending rate by 50 basis points to 17% in a decision announced on Thursday.

Inflation in the Southern African oil-producing country eased to 11.58% year-on-year in April, down from 12.42% in March.

The central bank wants to bring inflation down to single digits. At its last policy meeting in March, the Bank of Angola left its main lending rate unchanged, citing the need for caution because of the Iran war. (Reporting by Miguel Gomes; Additional reporting by Nilutpal Timsina; Writing by Sfundo Parakozov; Editing by Alexander Winning)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

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