The Bank of Uganda (BoU) has officially announced its decision to maintain the Central Bank Rate (CBR) at its current level of 9.75 percent. This pivotal monetary policy stance reflects the central bank’s comprehensive assessment of the nation’s economic health and its forward-looking outlook.The decision to keep the CBR unchanged was primarily underpinned by several key factors. The BoU cited the sustained trajectory of steady economic growth, indicating a robust performance across various sectors of the Ugandan economy. Additionally, the prevailing environment of subdued inflation played a significant role, suggesting that price stability is largely being maintained within desirable parameters. The central bank also noted a continuous improvement in domestic economic conditions, which contributes positively to the overall economic landscape and investor confidence.However, despite these encouraging internal developments, the Bank of Uganda emphasized its ongoing caution regarding persistent global risks. These external factors, which could potentially influence the domestic economy through various channels, necessitate a vigilant approach to monetary policy to safeguard national economic stability.The authoritative announcement of this crucial decision was made by Governor Michael Atingi-Ego, underscoring the central bank’s commitment to ensuring economic stability and sustainable growth for Uganda.
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