Uganda's central bank on Tuesday lowered its main lending rate to 9.5% from 10% (UGCBIR=ECI) (https://www.reuters.com/markets/quote/UGCBIR=ECI), the first time it has cut the policy rate since 2021, saying it wants to stimulate economic activity as inflation has fallen faster than expected.
Inflation (UGCPIY=ECI) (https://www.reuters.com/markets/quote/UGCPIY=ECI) fell to 3.9% year-on-year in July, down from 10.4% in January and a peak of 10.7% in October last year, while the central bank said economic growth seemed to be slowing down partly due to weak domestic demand.
Inflation (UGCPIY=ECI) (https://www.reuters.com/markets/quote/UGCPIY=ECI) fell to 3.9% year-on-year in July, down from 10.4% in January and a peak of 10.7% in October last year, while the central bank said economic growth seemed to be slowing down partly due to weak domestic demand.