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Market Update: Uganda Cuts Policy Interest Rate to Record Low
The Bank of Uganda slashed its benchmark interest rate by 50bps to 6.5 percent during its June meeting, bringing borrowing costs to record-low levels. The monetary policy decision aimed at supporting economic growth, amid a sharp reduction in inflation. In May, the country’s consumer prices rose 1.9 percent, the least since October 2019 and well below the central bank’s mid-point target of 5 percent. source: Bank of Uganda [/s2If]
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