✉news BusinessBanking first seen 3 h ago, last 1 h ago, peak #8
Uganda central bank raises rates to 12% to support shilling
The Bank of Uganda has raised its key interest rate to 12%, a move aimed at shoring up the shilling, which has been under pressure against the US dollar. The decision means higher borrowing costs for Ugandan businesses and households, as the bank weighs currency stability against the risk of slowing economic growth.
Why now: The rate hike directly affects borrowing costs and currency stability in Uganda, drawing attention from businesses, markets and regional observers.
Bank of UgandaUgandan shilling
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- Uganda central bank raises rates to 12% to support shilling · Investing.com
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