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The Bank of Uganda (BoU) has opted to hold its Central Bank Rate (CBR) steady at 9.75% in its May 2025 Monetary Policy statement, citing a resilient domestic economy and broadly contained inflation, but warning of heightened global uncertainties and a shifting balance of risks that could push inflation upwards in the near term. The Monetary Policy Committee (MPC), chaired by Governor Michael Atingi-Ego, emphasized that while inflation remains below target and growth remains firm, there is increasing concern over the potential for inflationary pressures to build up if economic activity accelerates beyond current supply capacities or if global disruptions…
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The Bank of Uganda (BoU) at the Monetary Policy Committee meeting of December 2021, maintained the Central Bank Rate (CBR) at 6.5%. The Central Bank says maintaining the CBR at 6.5% is meant to meet the inflation target of 5 per cent in the medium term. In a monetary policy statement, BoU Governor Emmanuel Tumusiime Mutebile, said economic activity is gradually normalizing after the second wave of Covid-19, and the high-frequency indicators of economic activity for October and November 2021 suggest that the economy had considerable momentum into the fourth quarter. “Although resurgence of the Covid-19 variants has undoubtedly clouded…
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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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