Bank of Uganda (BoU) has today, April 6th, 2020, in the April 2020 Monetary Policy Committee (MPC) meeting reduced the Central Bank Rate (CBR) by 1 percentage point to 8 percent. The CBR has been at 9% since October 2019. This is the lowest-ever rate since the CBR was introduced as a monetary policy tool, back in July 2011, then at 13%. The highest it has ever risen is 23%, at the height of one of Uganda’s worst inflationary spells. At the time, inflation annual headline and core inflation was 30.5% and 30.8% respective In a statement signed by the…
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