Bank of Uganda keeps interest rate steady at 10.25%

The Bank of Uganda has kept its benchmark interest rate steady at 10.25% during a meeting today, maintaining borrowing costs at their highest since May 2017. Deputy Governor Michael Atingi-Ego says the current stance is adequate to contain inflation around its medium-term target while supporting economic growth. Inflation stood at 3.6% in May, up slightly from April's 3.2% but below the central bank's target of 5%. However, the central bank governor warns that Uganda’s swelling debt, a drop in capital inflows, and exports, and a decrease in budget support pose a very big challenge to growth. #NTVNews #NTVTonight #NTVWeekendEdition Subscribe to Our Channel For more news visit http://www.ntv.co.ug Follow us on Twitter http://www.twitter.com/ntvuganda Connect with us on Messenger via m.me/NTVUganda