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Ugandan Central Bank Calls Special Meeting as Shilling Sinks
Original: Ugandan Central Bank Calls Special Meeting After Shilling Sinks
The Bank of Uganda has summoned an unscheduled meeting after the Ugandan shilling fell sharply against the US dollar, according to Bloomberg. The currency's slide is raising concerns about imported inflation and pressure on the economy, and markets are watching for whether the central bank will intervene or raise interest rates to defend the currency. Details of the meeting's outcome have not yet been released.
Why now: The shilling's sudden depreciation is prompting concern about monetary policy action and economic stability.
Bank of UgandaUgandan shillingUganda
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Evidence
- Ugandan Central Bank Calls Special Meeting After Shilling Sinks · Bloomberg.com
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