Bank of Uganda (BoU) has reduced the Central Bank Rate (CBR) by 0.5 percentage point to 6.5 percent, the Monetary Policy Statement for June 2021 says. According to the Central Bank, the aim of reducing the CBR is to boost the economy, which has stagnated due to the disruptions presented by the COVID-19 pandemic. BoU Governor Emmanuel Tumusiime Mutebile, in the statement issued on June 16, 2021, said: “Monetary Policy Committee (MPC) of June 2021, noted that economic developments have been broadly in line with the outlook in the April Monetary Policy Report (MPR). High frequency indicators of economic activity…
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