Uganda Raises Key Rate by 3 Points to Curb Runaway Inflation
This article is for subscribers only.
Uganda’s central bank raised its benchmark interest rate by 3 percentage points to curb inflation at an 18-year high and bolster the currency.
The Bank of Uganda increased the central bank rate to 23 percent from 20 percent, Governor Emmanuel Tumusiime-Mutebile told reporters today in the capital, Kampala. The bank has boosted the rate every month since it was introduced at 13 percent in July.