Still room to support domestic economic growth after cut, says Ugandan governor

Bank of Uganda: cuts interest rates to 13%

Despite exchange rate movements remaining a concern for inflation, the Bank of Uganda (BoU) deemed there was scope to ease monetary policy at its latest meeting, the governor said on October 18.

"The BoU will reduce the central bank rate by one percentage point to 13%," said governor Emmanuel Tumusiime-Mutebile, explaining the bank forecasts inflation to remain around its medium-term target of 5% over the next 12 months.

The governor acknowledged exchange rate movements would have a direct

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