The Big Story

Bank of Uganda maintains CBR at 7 percent as it predicts slow economic recovery The Central Bank notes that Inflation outlook remains extremely uncertain because the intensity, spread and duration of the COVID-19 pandemic is not yet known

by Samuel Muhimba
Bank of Uganda Governor Emmanuel Tumusiime-Mutebile. Government, through Bank of Uganda, continued to implement the Inflation Targeting monetary policy framework and succeeded in keeping inflation low and stable, consistent with our medium-term target of 5%.
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The Bank of Uganda (BoU) has Monday morning released the Monetary Policy statement for August maintaining the Central Banking Rate at 7 percent. During the Monetary Policy Committee (MPC) meeting of August 2020, Governor Emmanuel Tumusiime-Mutebile confirmed that BoU has decided to maintain the CBR at 7%. The band on the CBR has also been maintained at +/-2% points while the margin on the redis

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