CBR Archives – CEO East Africa

Mutebile eases Central Bank Rate to 7 per cent; urges banks to follow suit

Muhereza KyamuteteraThe Big StoryJune 8, 2020June 8, 2020

Bank of Uganda has today, for the second time in three months, further eased down the Central Bank Rate for June 2020 to 7 per cent, setting another record low since the CBR was introduced as a Monetary Policy tool in July 2011. In April 2020, at the onset of the Covid-19 pandemic, BoU fixed the benchmark rate at 8% and kept it at 8% for May as well. Announcing the policy rate cut today, Bank of Uganda Governor, Professor Emmanuel Tumusiime Mutebile said that given the fact that the impact of Covid-19 is likely to linger on much…

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BoU maintains February key lending at 11.5%

theceomaThe Big StoryFebruary 4, 2014February 4, 2014

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…

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