Bank of Uganda’s 9% Central Bank Rate is commendable but is it enough?

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A close look at the BoU Financial Soundness Indicators Report for October shows that while average Net Interest Margins for the banking industry barely changed, growing from 11.61% in Q1 2016 to 11.57% in Q4 2017, cost to income ratios grew by 10% percent points from 75.27% to 82.85%. Suffice to note that in the same period, the economy grew between 3-5%. In basic finance, if your costs are growin