By Our Reporter
Bank of Uganda (BOU) has today reduced the Central Bank Rate (CBR) by 1 percentage points to 16% from the previous 17% recorded in the last 6 months. This according to the Bank’s Governor Emmanue Mutebile was attributed to a moderately growing economy.
“The high frequency indicators suggest that economic activity was lower in the first quarter of 2016 compared to the last quarter of 2015. However, the indicators for the first eight months of the FY 2015/16 are consistent with the real economic growth forecast of 5% for the same period. Annual headline and core inflation declined to 6.2% and 6.9%, respectively, in March 2016 after peaking at 8.5% and 7.6% in December 2015,
