LUANDA - Angola's central ‌bank delivered a 125-basis-point interest rate cut on Tuesday, saying ​it expected a long-running inflation slowdown to continue despite an uncertain ​global economic ​backdrop.

The Bank of Angola lowered its policy rate to 15.75% from 17.0%, following a ⁠50-basis-point cut in May.

Inflation in the Southern African oil-producing country declined to 10.11% year-on-year in June from 10.88% in May and 19.73% in ​June ‌last year.

Governor ⁠Manuel Tiago ⁠Dias told a news conference the central bank expected the ​pace of price rises ‌to keep diminishing in the near ⁠term, despite uncertainties linked to the Middle East conflict.

Oil exporter Angola stands to benefit from elevated global energy prices.

The central bank lowered its year-end inflation forecast to 8.6% from a previous estimate of 11.5%, and raised this year's economic growth forecast to 3.6% from 3.5%.

The central bank recently added China's yuanto ⁠the list of currencies local banks ​can use for their foreign-currency reserve requirements, in a sign of the Chinese currency's growing importance in ​Africa.