Uganda Cuts Rate Again, Says Now Close To Inflation Target
The central bank of Uganda again cut its central bank rate (CBR), this time by a “modest” 50 basis points to 12.5 percent, but indicated that it may soon halt its aggressive rate-cutting campaign. The Bank of Uganda (BoU), which has cut its policy rate eight times this year for a total [...]
The central bank of Uganda again cut its central bank rate (CBR), this time by a “modest” 50 basis points to 12.5 percent, but indicated that it may soon halt its aggressive rate-cutting campaign.
The Bank of Uganda (BoU), which has cut its policy rate eight times this year for a total reduction of 1,050 basis points, said core inflation was now forecast to stabilize around the bank’s 5.0 percent target over the next three quarters.
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