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Uganda Cuts Benchmark Rate to Record Low to Boost Credit

KAMPALA (Capital Markets in Africa) Uganda’s central bank reduced its benchmark interest rate to support economic growth even as lending to businesses and individuals begins to show signs of improvement. Policy makers at the Bank of Uganda cut the rate by 50 basis points to 9.5 percent, extending an easing cycle that began in April 2016. Prior to Tuesday’s decision, they’d reduced the rate by a total of 700 basis points in eight of the past nine…

Bank of Uganda cuts key rate amidst improved inflation outlook in April

Posted on by The Editorial Team

KAMPALA, Uganda, Capital Markets in Africa — Bank of Uganda (BOU) reduces its benchmark lending rate on Monday, because of the fact that demand pressures on inflation are more subdued than at the time of the last and indications are that domestic demand is likely to remain constrained. The central bank Governor Emmanuel Tumusiime-Mutebile informed a news conference the bank had dropped the rate to 16 percent from 17 percent previously, adding that real growth…

Bank of Uganda maintains benchmark rate at 17 percent

Posted on by The Editorial Team

KAMPALA, Uganda, Capital Markets in Africa — Bank of Uganda kept the Central Bank Rate (CBR) at 17 percent on Wednesday, saying hikes of 6 percentage points since April had helped slow a rise in core inflation, according to the Monetary Policy Committee (MPC) Statement for December 2015 issued to the press by Professor Emmanuel Tumusiime-Mutebile, Governor Bank of Uganda. The MPC believe that the decision to keep the CBR unchanged is consistent with stabilising core inflation…

Bank of Uganda raises Central Bank Rate by 1.0 percent to 17 percent

Posted on by The Editorial Team

Kampala, Uganda, Capital Markets in Africa — Bank of Uganda has raised the Central Bank Rate (CBR) by 1.0 percentage points to 17 percent in October 2015, according to a Monetary Policy statement, issued by Governor Professor Emmanuel Tumusiime -Mutebile. This increase has resulted to cumulative increase of 6.0 percentage points in 2015, the previous increases were 1.0 percentage points (in April and June meetings) and 1.5 percentage points (in July and August meetings). In the Monetary…