CBR DOWN TO 15% FROM 16%

CBR DOWN TO 15% FROM 16%

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Bank of Uganda Governor Emmanuel Tumsiime Mutebile has warned  inflation figures would rise in coming months due to rising food prices plus international oil prices and fuel tax increases.

The governor who was releasing the monetary policy statement today noted that the economy failed to meet the 4.6 percent growth in the 2015/16 fiscal year due to external factors affecting production levels.

The Central Bank has meanwhile trimmed its benchmark lending rate to 15 percent from 16 percent on noting that inflation is projected to fall lower than the current 5.4%

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