Friday, June 24, 2011

Bank of Uganda adopts new monetary policy

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BY KABONA ESIARA

The central bank has changed its mon­etary policy to tight­en monetary consistence and strengthen the coun­try’s macroeconomic stabil­ity. With this policy, Bank of Uganda (BoU) will be an­nouncing the rate at which it will be lending to commercial banks and also fix the rates at which these banks lend to each other. The move according, to director research BOU Adam Mugume, is to lower or raise interest rates to achieve a projected inflation rate in an economy. He was

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