The festive season may have ended with the biggest spending by the ordinary Ugandan, however the central bank has retained its CBR at the December rate of 11.5%. Now financial industry experts say after a period of lull activity, the economy is showing signs of warming up to the BOU rate cuts following recent economic reports showing optimism that things are looking up.
At the Alpha Capital Partners, the Managing Director Mr. Stephen Kaboyo said, “While commercial banks have been slow to respond to the rate cuts, there are signs that both business and consumer confidence are improving, boding well for a further pick up in lending that may increase credit flow and extend a good growth run
