Commercial Banks’ lending rates rise to 20 percent in 3 months as credit demand drops to UGX 5.1 trillion

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The Central Bank of Uganda (BOU) has indicated that the quoted lending rates for commercial banks rose in the three months to April, averaging 20.8 percent, just 20 basis points (0.2 percent) above the reading in the three months to January 2024.  The details contained in the new BOU State of the Economy report shows that the weighted average shillings and foreign currency lending rates rose r