Bank of Uganda raises benchmark interest rate to 12% amid currency, inflation pressures

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The Bank of Uganda raised its benchmark interest rate by 225 basis points to 12%. The move responds to shilling depreciation, worsening external balances and rising inflation risks.

The Bank of Uganda (BoU) has raised its benchmark interest rate by 225 basis points to 12%, tightening monetary policy in response to the Ugandan shilling’s depreciation, worsening external balances, and rising inflation risks. The post Bank of Uganda raises benchmark interest rate to 12% amid currency, inflation pressures appeared first on Nairametrics.