Bank of Uganda (BoU) has reduced the Central Bank Rate (CBR) to 11.5 percent in December 2013 from 12 percent in November 2013, according to the Monetary Policy Statement for December 2013.
“Bank of Uganda will reduce the CBR by 50 percent basis points to 11.5 percent for December 2013,” said Dr Louis Kasekende, the Deputy Governor Bank of Uganda.
Speaking to the press on Tuesday, Dr. Kasekende said the economic growth remains below potential and downside risks pertaining to the uncertain global economic environment exist.
He however added that the bank’s forecast suggest that inflation will edge down further in the coming two to four months to 5.5 – 6.5 percent.
Find the full Monetary Policy Statement
