Uganda holds, but Zambia and Angola opt for cautious cuts
Economist says loosenings were motivated by positive inflation figures in southern African countries
Uganda’s central bank mirrored the decisions of many monetary authorities around the world and held its policy rate this week. However, Zambia’s and Angola’s both opted for modest cuts, notwithstanding the upside risks to inflation resulting from the effects of the Iran war.
The Bank of Uganda held rates at 9.75% following the meeting of its monetary policy committee (MPC) on May 14. This marked the committee’s seventh consecutive hold.
The bank’s governor, Michael Atingi-Ego, said in a
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