Bank of Uganda acquired two acres of the said land over 10 years ago, to construct a Currency Centre in Masaka. But area leaders together with the Golf Union are opposed to the acquisition and are accusing the Central Bank of encroaching on the land, located between Tropic Inn Hotel, Golf Lane Hotel and DFCU Bank in Masaka.
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.
