Tag Archives: inflation

Kampala, Uganda | THE INDEPENDENT | Bank of Uganda has decided to raise the Central Bank Rate by a percentage point to 8.5 percent as part of emergency measures against the spiraling inflation. This was decided at Tuesday’s emergency Monetary Policy Committee meeting called by the Central Bank Deputy Governor, Michael …

Washington, U.S. | Xinhua | U.S. President Joe Biden on Wednesday called on Congress to suspend federal gas tax for 90 days, as Americans are frustrated by the nation’s soaring gas prices. “By suspending the 18-cent gas tax — federal gas tax for the next 90 days, we can bring down …

Rome, Italy | Xinhua | As the crisis in Ukraine sends global fuel prices spiraling higher, governments in European Union (EU) member states are scrambling for ways to reduce the economic impact their citizens are feeling at the gasoline pumps. Prices for gasoline surpassed 2 euros (2.1 U.S. dollars) per liter …

Kampala, Uganda | THE INDEPENDENT | The cost of living is increasingly threatening the livelihoods of many Ugandans whose incomes have remained static, a new report by Twaweza has revealed. The cost of living crisis refers to the fall in ‘real’ disposable incomes resulting from high inflation. According to the latest …

Washington, U.S. | Xinhua | As U.S. inflation reached a 40-year high in May, President Joe Biden’s administration is facing “only bad options,” U.S. magazine Newsweek has reported. Over the last few months, the White House has been “badgered with questions about how the president will provide relief to Americans struggling …

Why it’s the wrong recipe for curbing inflation COMMENT | STEPHEN ONYEIWU | The Central Bank of Nigeria recently announced an increase in the interest rate, from 11.5% to 13%, a 1.5 percentage point hike that took effect immediately. Whenever the Central Bank changes the monetary policy rate, otherwise known …

Kampala, Uganda | THE INDEPENDENT | Uganda and some of its neighbours will have a hard time as a new World Bank report warns of a possibility of high global inflation accompanied by tepid growth, reminiscent of the stagflation of the 1970s. The Global Economic Prospects Report predicts that Uganda …

The Central Bank Rate raised from 6.5 to 7.5% to tame inflation Kampala, Uganda | JULIUS BUSINGE | Bank of Uganda has for the first time in the last two years raised the central bank rate by 1% percentage point to 7.5% to tame inflation, setting the pace for commercial …

Kampala, Uganda | THE INDEPENDENT | The Central bank on Thursday announced that it was increasing the Central Bank Rate (CBR) to 7.5 percent from 6.5 percent to control the rising inflation. In a statement issued, the Bank of Uganda said it will continue to raise the CBR until inflation is …

Kampala, Uganda | THE INDEPENDENT | The Uganda Shilling continues its downward trend against the US dollar more than two months since its appreciation journey against the dollar was halted. It has since depreciated by more than 200 shillings. The official foreign exchange rate by the Bank of Uganda put the …