Tag Archives: interest rate

Kampala, Uganda | URN | The announcement that NSSF member-savers will earn a record 22.53 percent interest on their savings has been greeted with excitement. Savers in the contributory pension schemes are set to receive 5.44 trillion shillings in interest for the financial year 2025/2026. The excitement aside, the unusually …

The NSSF Act now enables the Fund to extend its services beyond traditional employees, allowing informal sector workers and the self-employed to join voluntarily Kampala, Uganda | JULIUS BUSINGE | The National Social Security Fund (NSSF) recently announced an 11.5% interest rate for its members, a clear indication that despite challenges, …

Kampala, Uganda | THE INDEPENDENT | Uganda’s central bank reduced its key lending rate by 25 basis points to 10.00% on August.07, saying inflation risks had eased somewhat and it was appropriate to reduce the degree of monetary policy restrictiveness. The decision by the Bank of Uganda comes despite a slight …

Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda has reduced is base interest rate for the first time since April this year, from 10.25 to 10 percent as inflation seems tamed. BoU’s policy targets an inflation rate of not more than 5 percent in the medium term, and in …

Despite understandable frustration among the general public, it won’t be easy avoiding the Cobra’s Bite COMMENT | SIMON M. MUTUNGI | During the British imperial rule in India, the city of Delhi found itself grappling with a significant infestation of venomous cobras. In an earnest attempt to mitigate this issue, the …

  Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda has decided to maintain the Central Bank Rate (CBR) at a high 9.5 percent despite further drops in inflation rates in the month of September. The CBR is a tool that the central bank uses to direct the cost …

London, UK | Xinhua | The Bank of England (BoE) has raised its benchmark interest rate by 0.25 percentage points to 4.25 percent, the highest since autumn 2008, according to a BoE statement issued on Thursday. At its meeting ending on Wednesday, the central bank’s Monetary Policy Committee (MPC) voted …

Frankfurt, Germany | Xinhua | The European Central Bank (ECB) unveiled on Thursday a roadmap to wind down stimulus policies and possibly raise interest rates later in 2022. The decision to taper and possibly reverse a years-long policy of negative interest rates came at a time when inflation in the euro …

Kampala, Uganda | THE INDEPENDENT | The National Social Security Fund is likely to give a lower interest to savers for the year 2020/21, than what was paid out last year, according to the economic conditions prevailing. The decision to raise, lower or maintain the interest rate largely depends on two factors, …

By Ivan Rugambwa & Julius Businge   Second largest commercial bank shakes up loan market with 13 percent cut in interest rate If, as is often said, timing is money; then Standard Chartered Bank could be minting quite a bit of it if its recent sharp interest cut pays off. …