BoU cuts repo rate to 9.5%

BY OUR REPORTER

KAMPALA, UGANDA- Determined to restore high economic growth rate, private sector credit and to bring about low lending rates, Bank of Uganda has reduced Central Bank Rate (CBR) to 9.5 % from the previous 10%.

“The country’s economic activities are slowly gaining momentum. A cautious easing of monetary policy is warranted to boost private sector credit growth and strengthening the economic growth momentum,