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 …
Read More »Bank of Uganda: Oil will attract FDI in excess of $15bn in the medium term
Kampala, Uganda | THE INDEPENDENT | In an exclusive interview with the African Business, the Deputy Governor of the Bank of Uganda, Michael Atingi-Ego, talks about how the bank is dealing with inflation and the opportunities presented by oil and gas projects in the country How would you describe the current …
Read More »BOU’s Atingi-Ego calls for farmer sensitization on agricultural credit facility
Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda Deputy Governor Michael Atingi-Ego has tasked commercial banks and other financial institutions to sensitize farmers about the availability of the Agricultural Credit Facility–ACF to enable them to access favorable loans. He also wants commercial institutions to prioritize support for green jobs …
Read More »Central bank maintains benchmark rate at 10 percent
Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda (BoU), Uganda’s central bank, on Monday left the Central Bank Rate (CBR) at 10 percent for the second time, saying it is still effective to control the rise in inflation, bring stability in lending rate, exchange rate and drive economic growth. …
Read More »Gov’t starts payment of Shs2.5 trillion matured securities
Kampala, Uganda | THE INDEPENDENT | The government is to pay Shs2.5 trillion to the Bank of Uganda (BoU) in matured securities after its repayment was disrupted by the advent of COVID-19. The money is a domestic loan acquired by the government through the Bank of Uganda as an intermediary for individuals …
Read More »BOU, Experts wants MPs to check Government on budgeting priorities
Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda is confident that its recent policies against rising inflation and foreign exchange are beginning to bear fruit, through external challenges remain. The country faced a spiral in inflation over the last nine months, which rose from less than 3 percent in february …
Read More »Further borrowing will constrain development efforts: BOU
Kampala, Uganda | THE INDEPENDENT | The Deputy Governor of the Bank of Uganda, Michael Atingi-Ego has told parliament that the country’s public debt has now hit 80 trillion Shillings. He says that Uganda’s debt servicing in the current financial year 2022/2023, is at a ratio of tax revenue estimated at …
Read More »Uganda grapples with soaring inflation amid persistent global uncertainties
Kampala, Uganda | Xinhua | Uganda is grappling with double-digit inflation as spillover effects of the global economic decline filter through the domestic economy, the country’s central bank, Bank of Uganda (BOU) has said. Domestic inflation hit double digits for the first time in a decade, rising to 10 percent in …
Read More »Demand for credit slows with raising interest rates
Kampala, Uganda | THE INDEPENDENT | The banking industry has defended its changing mode of operation which sections of the public describe as less friendly, saying they have learnt from the effects of global shocks on the businesses and economies generally. In recent times, Bank of Uganda has compelled commercial banks …
Read More »Banking industry to develop long term export credit facility
Kampala, Uganda | THE INDEPENDENT | The Ugandan borrowing public will continue enduring a high cost of credit for as long as the current inflation and foreign exchange rates continue skyrocketing, according to the Bank of Uganda. This is in response to calls by the private sector, especially the manufacturers, that …
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