Potential global inflationary pressures, geopolitical tensions, and tightening global financial conditions could pose upside risks to inflation Kampala, Uganda | THE INDEPENDENT | Uganda’s central bank has opted to maintain the Central Bank Rate (CBR) at 9.75%, signaling confidence in the stability of domestic inflation and economic activity despite global …
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KAMPALA, UGANDA | THE INDEPENDENT | Uganda is in a wait-and-see mode ahead of Donald Trump’s assumption of the US presidency next month. While Uganda’s trade with the US is minimal compared to global trade, the country has interests like worker’s remittances, and cash inflows in the form of development aid, …
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Kampala, Uganda | THE INDEPENDENT | The State Minister of Finance, Henry Musasizi, has spoken out on the money heist at the Bank of Uganda (BOU) in which over 60 billion shillings was reportedly siphoned from the institution’s accounts in September this year and channeled to foreign accounts. …
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Kampala, Uganda | THE INDEPENDENT | The banking industry registered some strength towards the end of the financial year 2024, despite the closure of two Tier II lenders in the last half of the year. EFC Uganda Limited was closed in January and Mercantile Credit Bank Uganda in June 2024, …
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Kampala, Uganda | THE INDEPENDENT | Uganda’s central bank reduced its key lending rate by 25 basis points to 10.00% on August.07, saying inflation risks had eased somewhat and it was appropriate to reduce the degree of monetary policy restrictiveness. The decision by the Bank of Uganda comes despite a slight …
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Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda has reduced is base interest rate for the first time since April this year, from 10.25 to 10 percent as inflation seems tamed. BoU’s policy targets an inflation rate of not more than 5 percent in the medium term, and in …
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The financial regulator is in consultation to begin purchasing locally produced gold to bolster its foreign reserves and address challenges in international financial markets Kampala, Uganda | THE INDEPENDENT | Uganda’s central bank has urged borrowers to prepare for high interest rates due to tightening financial conditions and increased government borrowing …
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KAMPALA, Uganda | Xinhua | Uganda’s central bank said it is in consultation to begin purchasing locally-produced gold to bolster its foreign reserves and tackle challenges in international financial markets. The Bank of Uganda (BoU) in its State of the Economy report issued Thursday said the domestic gold purchase program …
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Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda has revoked the license of Mercantile Credit Bank Ltd and ordered the company to wind up its affairs. Mercantile is a Tier II financial institution. Credit Institutions are described as “non-bank” financial institutions that engage in the acceptance of call and …
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Bank of Uganda chose to keep the Central Bank Rate at 10.25% for the next two months Kampala, Uganda | THE INDEPENDENT & AGENCIES |The BoU Monetary Policy Committee forecasts a lower inflation rate of between 5 and 5.4% next financial year as the shilling is expected to be more …
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