The Big Story

Controlling Inflation: Bank of Uganda increases Central Bank Rate to 8.5%

by Alphred Rhyman Agaba
Bank of Uganda. The Bank has increased the Cash Reserve Requirement by 2 percentage points to 10 percent, effective 23rd June 2022. Courtesy
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In a bid to curtail inflation, the government of Uganda, through the Bank of Uganda (BoU) has increased the Central Bank Rate (CBR) by 1 percentage point to 8.5%. At the extra-ordinary Monetary Policy Committee (MPC) meeting that was held in July 2022, the BoU increased the Central Bank Rate (CBR) by 1 percentage point to 8.5 percent. “Inflation continues to rise, largely influenced by ext

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About the Author

Rhyman Alphred Agaba is a journalist, editor and radio/TV producer and entrepreneur based in Kampala.