Bank of Uganda halves number of MPC meetings

uganda

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

To continue reading...