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Bank of Uganda cuts CBR to a record lowest 8% over Covid-19

Muhereza Kyamutetera

Bank of Uganda Governor, Tumusiime Mutebile has today cut the Central Bank rate to a record low 8% and reiterated a raft of measures to bail-out liquidity stressed financial institutions. Banks have also been given headroom to restructure loans on a case-by-case basis

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Bank of Uganda (BoU) has today, April 6th, 2020, in the April 2020 Monetary Policy Committee (MPC) meeting reduced the Central Bank Rate (CBR) by 1 percentage point to 8 percent. The CBR has been at 9% since October 2019. This is the lowest-ever rate since the CBR was introduced as a monetary policy tool, back in July 2011, then at 13%. The highest it has ever risen is 23%, at the height

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