Governor cites stabilising inflation as Bank of Uganda cuts

tumusiime-mutebile

With inflation forecast to return to target over the next year, the Bank of Uganda saw scope to ease policy today, cutting its policy rate by 100 basis points to 15%.

Governor Emmanuel Tumusiime-Mutebile today (June 13) said the central bank "would like as much as possible to have an impact on the state of the economy".

The central bank therefore sanctioned its second cut of the year, having reduced the policy rate by an initial 100bp in April.

Annual consumer price inflation ticked up to 5.4%

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