Central Banks
Uganda Cuts Key Interest Rate for First Time in a Year
- Central bank cuts key interest rate by 25 basis points to 10%
- Bank expects inflation to remain below 5% target in short term
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Uganda’s central bank cut its benchmark interest rate for the first time in a year after revising its inflation forecasts downwards.
The monetary policy committee lowered the benchmark rate to 10% from 10.25%, Deputy Governor Michael Atingi-Ego told a virtual briefing on Wednesday.