• About us
  • BUSINESS
  • Contact Form
  • Entertainment & Arts
  • Home
  • Home 1
  • Home 2
  • Home 3
  • Home 4
  • Home 5
  • Home 6
  • Latest News
  • Search Results
Eyewitness  News  Uganda
Advertisement
  • Home
    • Home – Layout 2
    • Home – Layout 3
    • Home – Layout 4
    • Home – Layout 5
    • Home – Layout 6
  • About us
    • Home
  • Social
    • Faith
    • Opinion
  • Security
  • Technology
  • International
    • Diplomacy
  • Enviroment
  • Entertainment & Arts
  • Education
    • Agriculture
      • BUSINESS
  • ECONOMY
No Result
View All Result
  • Home
    • Home – Layout 2
    • Home – Layout 3
    • Home – Layout 4
    • Home – Layout 5
    • Home – Layout 6
  • About us
    • Home
  • Social
    • Faith
    • Opinion
  • Security
  • Technology
  • International
    • Diplomacy
  • Enviroment
  • Entertainment & Arts
  • Education
    • Agriculture
      • BUSINESS
  • ECONOMY
No Result
View All Result
Eyewitness  News  Uganda
No Result
View All Result
Home Latest News

CBR REDUCED TO 9.5%

October 3, 2017
in Latest News
0
0
SHARES
3
VIEWS
Share on FacebookShare on Twitter

The central bank has today announced a reduction of lending rate by 0.5% points to now 9.5% confirming the band on CBR will be maintained at +/-3% points and the margin on the rediscount rate at 4% points on the CBR.

Announcing the reduction today at the central bank, governor, Emmanuel Tumusiime Mutebire attributes that reduction to the fact that the annual core inflation is forecast to remain around the medium term target of 5% and the economic activity is slowly gaining momentum adding that a cautious easing of monetary policy is warranted to boost private sector credit growth as well as strengthen the economic growth momentum.

RelatedPosts

The Legend of Zelda: Breath of the Wild gameplay on the Nintendo Switch

macOS Sierra review: Mac users get a modest update this year

Hands on: Samsung Galaxy A5 2017 review

The bank continues to reveal that consumer price index data indicates that inflation remains subdued with headline and core inflation increased marginally to 5.3% and 4.2% in September 2017 from the respective rates of 5.2% and 4.1% in August 2017 with the rise largely driven by the increase in the cost of fuels which pushed up electricity, fuels and utilities inflation to 10.6% in September 2017 from 7.8% in August 2017 with annual food crops inflation however continued to fall, declining to 9.6% in September 2017 from 11.7% in August 2017 largely on account of improved food supply.

Meanwhile, the latest quarterly GDP data released at the end of September 2017 by Uganda Bureau Of Statistics (UBOS) indicates that growth recovery in the second half of 2016/17 adding that quarterly growth rates of only 0.6% and .1% were recorded in the first two quarters of 2016/17, mainly because of bad weather that affected the agricultural sector.

Still growth rate accelerated to 1.8% and 1.9% respectively in the third and fourth quarters of the financial year though growth in the private sector credit remains sluggish with the economy projected to grow at an annual rate of 5.0% to 5.5% in the financial year 2017/18 which according to the experts its lower than the estimates of potential GDP growth.

UBOS further projects economic growth to accelerate to between 6 and 6.5% over the medium term with the outlook supported by accommodative monetary policy coupled with improvement in public investment management and improvement in the global economy.

The central bank now forecasts indicate that inflation outlook remains unchanged since the last monetary committee meeting in August 2017, with annual core inflation forecast to remain within the target range of 5% over the the short to medium term.

END

Previous Post

GOVT FAILS TO RECRUIT OVER 4700 TEACHERS THIS YEAR

Next Post

News

kampala@12345

[email protected]

Related Posts

The Legend of Zelda: Breath of the Wild gameplay on the Nintendo Switch

macOS Sierra review: Mac users get a modest update this year

Hands on: Samsung Galaxy A5 2017 review

The Last Guardian Playstation 4 Game review

Hillary Clinton in white pantsuit for Trump inauguration

February 18, 2021

Amazon has 143 billion reasons to keep adding more perks to Prime

February 17, 2021
Next Post

News

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected test

  • 1.4k Fans
  • 392 Followers
  • 13.9k Followers
  • 23k Followers
  • 99 Subscribers
  • Trending
  • Comments
  • Latest
Nema Boss Warns Of Marine Expert Shortage & Failure To Survey Waters

Nema Boss Warns Of Marine Expert Shortage & Failure To Survey Waters

January 5, 2019
Eddie Mutwe Charged With Treason

Eddie Mutwe Charged With Treason

September 15, 2018
48 Ugandans Working In Middle East Have Died In The Last 8 Months MPs

48 Ugandans Working In Middle East Have Died In The Last 8 Months MPs

April 10, 2021
Mohamed Salah ‘on his way’ to Lionel Messi comparisons – Liverpool boss Klopp

Mohamed Salah ‘on his way’ to Lionel Messi comparisons – Liverpool boss Klopp

April 9, 2021
Budget Advocates Concerned With New Wave Of Corruption In Govt.

Budget Advocates Concerned With New Wave Of Corruption In Govt.

1

PARLIAMENTARY COMMITTEE ON NATURAL RESOURSES ORDERS FOR BILLION RELAESE FOR POWER LINES

0

100 ACRES SECURED FOR DEVELOPMENT SAYS CITY COUNCIL

0

KASANDA NORTH MP ASKS FOR COMMISSION DEALING WITH COMPENSATION

0
Tanzania, Uganda Sign Oil Pipeline Agreement

Tanzania, Uganda Sign Oil Pipeline Agreement

April 11, 2021
Women Legislators Ask President Museveni To  Assent To Employment Amendments  Bill 2019

Women Legislators Ask President Museveni To Assent To Employment Amendments Bill 2019

April 9, 2021
Four Ugandan Innovators Receive Seed Funding Worth UGX 308 Million from UNICEF

Four Ugandan Innovators Receive Seed Funding Worth UGX 308 Million from UNICEF

April 9, 2021
Climate Change Impacts On Food Production In Africa Roaming

Africa Needs to Scale Up Climate Change Mitigation and Adaptation Capacity

April 8, 2021

Recent News

Tanzania, Uganda Sign Oil Pipeline Agreement

Tanzania, Uganda Sign Oil Pipeline Agreement

Women Legislators Ask President Museveni To  Assent To Employment Amendments  Bill 2019

Women Legislators Ask President Museveni To Assent To Employment Amendments Bill 2019

April 9, 2021
Four Ugandan Innovators Receive Seed Funding Worth UGX 308 Million from UNICEF

Four Ugandan Innovators Receive Seed Funding Worth UGX 308 Million from UNICEF

April 9, 2021
Climate Change Impacts On Food Production In Africa Roaming

Africa Needs to Scale Up Climate Change Mitigation and Adaptation Capacity

April 8, 2021

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

Follow Us

Our Facebook Page

Browse by Category

  • Agriculture
  • BUSINESS
  • Diplomacy
  • ECONOMY
  • Editor's Pick
  • Education
  • Entertainment & Arts
  • Enviroment
  • Faith
  • Featured News
  • Health
  • International
  • Latest News
  • obituary
  • Opinion
  • Opinion
  • Politics
  • Security
  • Social
  • SPORTS
  • Technology
  • Tourism

Recent News

Tanzania, Uganda Sign Oil Pipeline Agreement

Tanzania, Uganda Sign Oil Pipeline Agreement

April 11, 2021
Women Legislators Ask President Museveni To  Assent To Employment Amendments  Bill 2019

Women Legislators Ask President Museveni To Assent To Employment Amendments Bill 2019

April 9, 2021
  • About us
  • BUSINESS
  • Contact Form
  • Entertainment & Arts
  • Home
  • Home 1
  • Home 2
  • Home 3
  • Home 4
  • Home 5
  • Home 6
  • Latest News
  • Search Results

Copyright © 2021 Eyewitness All Rights Reserved

No Result
View All Result
  • Home
    • Home – Layout 2
    • Home – Layout 3
    • Home – Layout 4
    • Home – Layout 5
    • Home – Layout 6
  • About us
    • Home
  • Social
    • Faith
    • Opinion
  • Security
  • Technology
  • International
    • Diplomacy
  • Enviroment
  • Entertainment & Arts
  • Education
    • Agriculture
      • BUSINESS
  • ECONOMY

Copyright © 2021 Eyewitness All Rights Reserved

error: Content is protected !!