The Bank of Uganda has increased the Central Bank Rate (CBR) by 50 basis points to 9 percent. The revelation was made by Michael Atingi-Ego – Deputy Governor in a Monetary Policy Statement for August 2022 on Thursday. “The economy continues to face strong cost-push inflation pressures from the external environment, dry weather conditions, and exchange rate depreciation amidst weak domestic demand. The annual headline and core inflation rose to 7.9 percent and 6.3 percent in July 2022 from 6.8 percent and 5.5 percent in June 2022, respectively. Annual food crop inflation continued to rise from 14.5 percent in June…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
