Uganda: Bank of Uganda Cuts Key Policy Rate to 11%

Uganda's central bank cut its key policy rate by 0.5 per cent to 11 per cent Wednesday. The decision is linked to concerns about depressed economic activity, signs of rebound posted by credit flows and a fairly stable inflation outlook.

Weak government spending, severe drought, low Foreign Direct Investment flows particularly in the oil and gas sector and the economic slowdown experienced in major regional export markets including South Sudan and the Democratic Republic of Congo have weighed down on the country's growth outlook this financial year.

...

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.