Uganda cuts main lending rate to 11%

Uganda cuts main lending rate to 11%

Uganda’s central bank on Wednesday cut its benchmark lending rate to 11 per cent from 11.5 per cent. The bank Governor, Emmanuel Tumusiime-Mutebile, told a news conference in Kampala the cut was due to core inflation, which would remain around the bank’s mid-term target over the next 12 months. Tumusiime-Mutebile said there was scope to…

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