EAC officials highlight exchange rate pass-through concerns

Both central banks wary of potential for domestic inflation to increase

Emmanuel Tumusiime-Mutebile

Ugandan inflation looks set to rise due to pressure on the country's exchange rate, the country's central bank governor said in a speech on August 25 – representative of a trend across much of the East African Community (EAC).

"External shocks" affecting the country's exports, tourism and foreign direct investment were the main factors behind a significant depreciation of the Ugandan shilling over the last year, Emmanuel Tumusiime-Mutebile said.

Similarly, the National Bank of Rwanda stressed

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