Uganda cuts rates to 12.5% in bid to spur domestic economy

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The Bank of Uganda (BoU) cut its benchmark central bank rate (CBR) from 13% to 12.5% in a bid to stimulate the local economy, despite concerns earlier rate cuts are not feeding through to borrowers, according to the central bank's monetary policy statement for November 2012.

With annual inflation and core inflation both falling in October from 5.5% to 4.5% and from 4.9% to 4%, respectively compared with September, the Bank of Uganda could turn its attention to economic growth. "These reductions

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