Monetary policy

Bank of Uganda maintains benchmark rate at 17 percent

Posted on by The Editorial Team
Bank of Uganda maintains benchmark rate at 17 percent

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…

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Nigeria’s Monetary Policy Committe High Stakes, Tough Choices …

Posted on by The Editorial Team
Nigeria’s Monetary Policy Committe High Stakes, Tough Choices …

LAGOS, Nigeria, Capital Markets in Africa — The Nigerian Monetary Policy Committee (MPC) will be sitting for its 6th and last session for the year from 23rd and 24th of November 2015. The meeting is coming against the backdrop of concerns surrounding FX rate amid calls for further devaluation of the local unit, slow GDP growth, unrelenting inflationary pressure, robust liquidity levels in the financial system as well as the increasing expectation for a FED rate…

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

Posted on by The Editorial Team
Bank of Uganda raises Central Bank Rate by 1.0 percent to 17 percent

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…

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Nigerian MPC harmonizes CRR on Banks’ Deposits to 31.0%

Posted on by The Editorial Team
Nigerian MPC harmonizes CRR on Banks’ Deposits to 31.0%

Lagos, Nigeria (Capital Markets in Africa):- The Monetary Policy Committee (MPC) at its 244th meeting decided to harmonize the Cash Reserves Requirement (CRR) on public and private sector deposits to 31.0%. The effect of macroeconomic issues in the global space were considered and analysed with the conclusion that no near term external shock is expected to affect the domestic economy. The growth potential of the domestic economy was reported weak but did not call for a…

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