Central Bank Rate at 9.75%: Atingi-Ego says its appropriate to support growth & control inflation
The Bank of Uganda has maintained its Central Bank Rate at 9.75%, following the Monetary Policy Committee meeting held earlier today. The decision reflects a cautious stance by the central bank in the face of elevated global risks, even as inflation remains broadly aligned with target projections. Bank of Uganda governor Michael Atingi-Ego said the decision to stay the rate appropriate to manage the inflation target while supporting sustainable economic growth. GDP growth is projected between 6.0% and 6.5% for FY2024/25.
