Central Banks
Uganda Central Bank Maintains Key Rate Citing Subdued Inflation
- Monetary policy committee leaves key interest rate at 9.5%
- Core inflation rate is below central bank’s target of 5%
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Uganda’s central bank kept its benchmark rate at 9.5% as inflation remains below its medium-term target.
“Inflationary pressures remain subdued, reflecting the continuing monetary effect of the supply side shocks, headline inflation around the world, and tight monetary and fiscal policies,” Deputy Governor Michael Atingi-Ego told reporters in the capital, Kampala, on Tuesday.