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Jan 15 results
19:26
19:26

BoU Reduces CBR to 11%, Paints Gloomy Economic Picture bank of uganda

Bank of Uganda Governor, Emmanuel Tumusiime-Mutebile says given that core inflation is forecast to remain around the medium-term target of five percent and in line with efforts to support private sector credit and economic growth momentum, the central bank believes that there is scope to continue easing monetary policy.
11:59
11:59

Banks Start Reducing Lending Rates bank of uganda 1 Top story

A number of commercial banks have announced reductions in lending rates following Bank of Ugandas recent cut in its benchmark lending rate. Banks that have announced reductions in lending rates are Housing Finance Bank, United Bank of Africa, Diamond Trust Bank, Standard Chartered Bank, GT Bank, Tropical Bank, and ABC Capital Bank.
15:26
15:26

BoU Reduces Key Lending Rate, Forecasts Low Inflation 3

Governor Tumusiime Mutebile says that since Ugandas economic outlook has improved with core inflation forecast to remain around the medium term target of five percent over the next 12 months, there is a need to support the current economic growth momentum, hence reducing the benchmark lending rate.
14:06
14:06

Bankers Explain High Interest Rates geoffrey onegi-obel 4

According to Kasekende, other factors banks consider in determining interest rates are risks. He says private sector borrowers tend to have low repayment compliance so a bank has to factor in the possibility of a loan not being repaid well or not at all.
13:45
13:45

Major Banks Begin to Slash Interest Rates bank lending rates

The major commercial banks in Uganda have slashed their prime lending rates, signalling better times for private sector lending.
07:50
07:50

Trade Minister Puts BoU on the Spot bank of uganda

Trade and Industry minister Amelia Kyambadde has told Bank of Uganda officials to clean their act and start engaging with the business community and the public in a more meaningful and rewarding manner.
15:39
15:39

BOU Reduces Lending Rates to 19% louis kasekende

The less than one percent decline in inflation in June was enough for the central bank to lower the inter-bank lending rates from 20 percent to 19 percent for the month of July. Dr Louis Kasekende, the deputy governor of Bank of Uganda, attributed the decline in the Central Bank Rate (CBR) to favourable external and internal factors that have seen core inflation drop from 18.6 percent to 18.0 percent in June.
12:08
12:08

Little Change in CBR as Inflation Falls by 0.6% bank of uganda

There was a marginally small fall in inflation from 18.6 percent in May to just 18.0 percent in June, according to the latest figures from the Uganda Bureau of Statistics (UBOS). In its report for June, UBOS also announced that the economy grew by 2.4 percent in the last quarter of the just ended financial year 20111/12.
07:20
07:20

Government Promises Solution to Inflation bank loans

Prime Minister Amama Mbabazi on Monday appealed to Kampala traders under their umbrella association – KACITA, to stay their strike until government finds a lasting solution to the high inflation currently affecting the country.
06:58
06:58

Traders, Bankers Fail To Reach Concensus as Minister Cries for Teachers' Plight teachers salaries

A One-day meeting called on Monday by the Parliamentary Committee on Finance to avert a planned traders’ strike scheduled for Wednesday, failed to reach any conclusion forcing the parties to schedule another meeting on Tuesday.
17:27
17:27

Mutebile: Inflation To Fall To 5% By End of 2012 high inflation

Announcing the January 2012 monthly monetary statement in Kampala on Tuesday, Mutebile said inflation has peaked, adding that he expects a sharper decline to reach the medium term target of five percent before December, much earlier than predicted.
15:31
15:31

Traders Petition Parliament as Interest Rates Soar high interest rate

City traders under the Kampala City Traders Association (KACITA) have petitioned the Speaker of Parliament over the increasing interest rates that have affected their businesses.
16:16
16:16

BOU: GDP To Drop In 2012 inflation rate 1

The economic growth of Uganda is projected to drop in the coming year owing to the tough economic times ahead. The Central Bank is projecting that the Gross domestic product (GDP) will drop from the current 6.7% to 5 percent in the 2011/2012 financial year.
17:58
17:58

Mutebile: BOU Ready To Raise CBR Rate To 50% inflation

Ugandans will have to embrace tougher economic times as inflation continues to bedevil the country. Emmanuel Tumusiime Mutebile, the Bank of Uganda Governor says the inflation is expected to rise higher before it could go back to the single digits.
17:32
17:32

BOU Urged To Heighten Economic Supervision To Curb Inflation

The escalating financial meltdown in the country has to be reigned in through prudent monetary policies and economic supervision other than just targeting the lending rates, according to an economist.
Jan 15 results