✉news BusinessBanking first seen 7 h ago, last 55 min 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 supporting the shilling, which has come under pressure. The decision signals the central bank's willingness to tighten monetary policy further to defend the currency and contain inflation, and analysts will be watching how markets and borrowers respond to the higher cost of credit.
Why now: A sharp rate hike to defend a weakening currency affects businesses, borrowers and inflation across Uganda.
Bank of UgandaUgandan shillingUganda
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- Uganda central bank raises rates to 12% to support shilling · Investing.com
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