Economics
Uganda Holds Rate at Record-Low 9% to Balance Prices, Growth
- Shilling, oil price are inflation risks, governor says
- Inflation quickened to seven-month high of 3.1% in July
Cars and boda bodas drive along Riga Street, Kampala.
Photographer: Sally Hayden/SOPA Images/LightRocket via Getty ImagesThis article is for subscribers only.
Uganda’s central bank maintained its key interest rate at a record low as it seeks to balance rising inflation and the need to encourage economic growth.
The Monetary Policy Committee kept the benchmark rate at 9 percent, Governor Emmanuel Tumusiime-Mutebile told reporters Monday in the capital, Kampala.