Central Banks
Uganda Delivers First Back-to-Back Rate Cut Since 2020
- Central bank cuts key interest rate by quarter point to 9.75%
- Policymakers say decision based on improved inflation outlook
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Uganda’s central bank delivered its first back-to-back interest-rate cut in four years on an improved inflation outlook.
The monetary policy committee lowered the benchmark rate to 9.75% from 10%, Deputy Governor Michael Atingi-Ego told a virtual briefing on Monday. The size of the reduction matched the cut in August.