The Bank of Uganda has maintained the benchmark central bank rate at 10 percent.
Kampala, Uganda | THE INDEPENDENT | Governor BoU Emmanuel Tumusiime Mutebile says that the 12-month inflation forecast has improved slightly relative to October 2018 forecast.
The Consumer Price Index data by Uganda Bureau of Standards indicates that inflation remained subdued with annual headline inflation remaining stable at 3.0 percent in November 2018.
Mutebile says that domestic economic activity is projected to remain on a steady expansion in 2018/2019 and over the coming years, although upside risks to inflation outlook remain elevated.
According to Mutebile, the Central Bank assessed the risks and certainties surrounding inflation and growth outlook and decided to maintain the CBR, which signals other lending rates, at 10 percent.