In a bid to curtail inflation, the government of Uganda, through the Bank of Uganda (BoU) has increased the Central Bank Rate (CBR) by 1 percentage point to 8.5%. At the extra-ordinary Monetary Policy Committee (MPC) meeting that was held in July 2022, the BoU increased the Central Bank Rate (CBR) by 1 percentage point to 8.5 percent. “Inflation continues to rise, largely influenced by external cost pressures stemming from higher global food and energy prices, persisting global production and distribution challenges, as well as rising domestic food crop prices due to dry weather across the country,” reads an extract…
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