By; Charles Katabalwa
5th Dec 2018
Governor Bank of Uganda Emmanuel Tumusiime Mutebile has said that the Central Bank will maintain the rates at 10% due to improved inflation forecasts for the year ending October 2018.
The Consumer Price Index data by Uganda Bureau of Standards (UBOS) indicates that inflation remained subdued with annual headline inflation remaining stable at 3.0 percent in November 2018.
Mutebile said in a press conference at BOU headquarters in Kampala that domestic economic activity is projected to remain on a steady expansion in 2018/2019 and over the coming years, although upside risks to inflation outlook remain elevated.
According to Mutebile, the Central Bank assessed the risks and certainties surrounding inflation and growth outlook and decided to maintain the CBR at 10 percent.