The trio was remanded last week shortly after being charged with abuse of office and Corruption. The Anti-Corruption court, Grade one Magistrate Abert Asiimwe released the trio on bond this morning basing on their positions in the bank. He directed Kakeeto to deposit Shillings 30 million in cash, his passport and land title with court.
Delivering Monetary Policy Statement for August today, Mutebile said inflation is projected to peak between 6 to 7 percent in the second quarter of 2018/19 financial year and will stablise at around 5 percent by end of 2019.
Mutebile explained that although the central bank was incessantly criticized when it took over Crane Bank in December 2016, Bank of Uganda had no other option other than putting Crane Bank under administration and later selling it.
The Forum for Democratic Change President while addressing journalists at the Inter party coalition meeting on Tuesday said this is the reason why there is high inflation rate at 31%.
