The Bank of Uganda has halved the number of times its monetary policy committee (MPC) meets each year, it announced yesterday, in an effort to "strengthen" its decision-making framework.
Effective immediately, the MPC will meet on a bi-monthly basis, which means it will only set the Bank of Uganda's key policy rate – the central bank rate (CBR) – six times a year, as opposed to 12.
The CBR was only established in July 2011. No sooner had the central bank introduced the rate than it began to hike
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