{"id":22835,"date":"2011-08-02T13:55:00","date_gmt":"2011-08-02T17:55:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?guid=923c2b6e66a3b0c02324210e8d8b4944"},"modified":"2011-08-02T13:55:00","modified_gmt":"2011-08-02T17:55:00","slug":"bank-of-uganda-raises-interest-rate-100bps-to-14-00","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/08\/02\/bank-of-uganda-raises-interest-rate-100bps-to-14-00\/","title":{"rendered":"Bank of Uganda Raises Interest Rate 100bps to 14.00%"},"content":{"rendered":"

The Bank of Uganda<\/a> raised its<\/span><\/span> new monetary policy interest rate (the central bank rate) by 100 basis points to 14.00% from 13.00% previously.  Bank of Uganda Governor, Emmanuel Tumusiime Mutebile, said the move was “intended to <\/span>reduce the growth of bank credit in the economy, which expanded very rapidly in the 2010-11 fiscal year, and to provide some support for the nominal exchange rate, which affects domestic prices of imported goods,”.  The Bank added: “If the upside risks to inflation increase in the coming months, monetary policy will be tightened further,”.<\/span><\/span>
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<\/a>Previously the Ugandan central bank set the central bank rate<\/a> at 13.00% at its June meeting.  The Bank only recently began using the 7-day interbank rate to influence inflation, also commencing official targeting inflation<\/a>; the Bank has an inflation target of 7%<\/span>.  Uganda reported annual headline inflation of 18.7% in June this year, up from 16% in May, and 14.1% in April, while core inflation was 15.6% in July, 11.3% in May and 9.7% in April.  The government of Uganda is forecasting 6.6% GDP growth for the current fiscal year.<\/span><\/p>\n

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www.CentralBankNews.info<\/a><\/span><\/span><\/div>\n<\/div>\n<\/div>\n
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The Bank of Uganda raised its new monetary policy interest rate (the central bank rate) by 100 basis points to 14.00% from 13.00% previously.  Bank of Uganda Governor, Emmanuel Tumusiime Mutebile, said the move was “intended to&nbsp…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-22835","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/22835","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=22835"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/22835\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=22835"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=22835"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=22835"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}