BoU maintains February key lending at 11.5%

By Taddewo Senyonyi Bank of Uganda (BoU), on February,4, 2014 maintained the February 2014 Central Bank Rate (CBR) at 11.5% to further control inflation.  This follows an increase in annual overall inflation (Headline inflation) to 6.9% in January from 6.7 in December 2013, largely on account of annual food crop’s inflation, which rose to 21.4% from 12.7% in December 2013, due to relatively high food prices in January 2013. However, Annual Core Inflation (the measure of inflation that excludes prices of food crops, energy and utilities) declined to 4.6% from 5.7% in December 2013. BoU Deputy Governor Louis Kasekende while…