• Latest
Banks asked to restructure Loan Repayments for Businesses in Education, Hospitality Sector

Bank of Uganda Raises Central Bank Rate to 8.5%

3 years ago
King Oyo Marks 30 Years on the Throne, Unveils Ambitious Dev’t Agenda for Tooro

King Oyo Marks 30 Years on the Throne, Unveils Ambitious Dev’t Agenda for Tooro

23 hours ago
NRM Submits Over 2.2 Million Signatures to Endorse Museveni for 2026 Elections

NRM Submits Over 2.2 Million Signatures to Endorse Museveni for 2026 Elections

23 hours ago
Entebbe Airport Sets New Passenger Traffic Record in August 2025

Entebbe Airport Sets New Passenger Traffic Record in August 2025

23 hours ago
CID, Auditor General Probe Alleged Bank of Uganda Hacking and Loss of Shs62bn

BoU Cites Rise in Yields and Strong Investor Demand in Treasury Bills Auction

23 hours ago
She Data Science Program Launched to Empower Young Ugandan Women With Skills in Artificial Intelligence and Bioinformatics

She Data Science Program Launched to Empower Young Ugandan Women With Skills in Artificial Intelligence and Bioinformatics

1 day ago
Africa, Asia Push for Stronger International Law on Climate, Trade and Cyberspace

Africa, Asia Push for Stronger International Law on Climate, Trade and Cyberspace

2 days ago
SoftPower News
Sunday, September 14, 2025
  • News
  • Tourism & Travel
  • Business
  • Lifestyle
    • Fashion
  • Regional
    • Kenya
    • Rwanda
    • Tanzania
    • Burundi
    • South Sudan
    • DR Congo
  • Defence & Security
  • Sport
  • Entertainment
  • More
    • Agriculture
    • Africa
    • Columnists
    • Education
    • Health
      • COVID-19
    • International News
    • News in Pictures
    • OpEd
    • Pearl Of Africa
    • People
    • Politics
    • Special Reports
    • Women
No Result
View All Result
  • News
  • Tourism & Travel
  • Business
  • Lifestyle
    • Fashion
  • Regional
    • Kenya
    • Rwanda
    • Tanzania
    • Burundi
    • South Sudan
    • DR Congo
  • Defence & Security
  • Sport
  • Entertainment
  • More
    • Agriculture
    • Africa
    • Columnists
    • Education
    • Health
      • COVID-19
    • International News
    • News in Pictures
    • OpEd
    • Pearl Of Africa
    • People
    • Politics
    • Special Reports
    • Women
No Result
View All Result
SoftPower News
No Result
View All Result
Home Business

Bank of Uganda Raises Central Bank Rate to 8.5%

by Rogers Atukunda
July 5, 2022
Banks asked to restructure Loan Repayments for Businesses in Education, Hospitality Sector

Micheal Atingi-Ego, Deputy Governor, Bank of Uganda

3
VIEWS

At the extra-ordinary Monetary Policy Committee (MPC) meeting held in July 2022, the Bank of Uganda increased the Central Bank Rate (CBR) by 1 percentage point to 8.5 percent.

BoU deputy governor, Dr Michael Atingi-Ego, said in a Monetary Policy Statement for July that the inflation outlook is significantly uncertain, with the balance of risks tilted to the upside.

Related Stories

King Oyo Marks 30 Years on the Throne, Unveils Ambitious Dev’t Agenda for Tooro

NRM Submits Over 2.2 Million Signatures to Endorse Museveni for 2026 Elections

Entebbe Airport Sets New Passenger Traffic Record in August 2025

“Inflation continues to rise largely influenced by the external cost pressures stemming from higher global food and energy prices, persisting global production and distribution challenges as well domestic rising food prices due to dry weather across the country,” noted.

He said the annual headline and core inflation rose to 6.8 percent and 5.5 percent in June 20022 from 6.3 percent and 5.1 percent in May 2022, respectively.

Annual food crop inflation has sharply risen from 0.7 percent in February 2022 to 14.5 percent in June 2022.

He said the rising food and energy prices intensified by a weaker Uganda shilling, have worsened the inflation outlook for the remaining part of 2022 and into 2023.

“The headline and core inflation are now forecast to average to 7.4 percent and 6.3 percent, respectively, in 2022 slightly higher than the 7.2 percent and the 6.1 percent that was projected in the June 2022 forecast round.”

According to him, inflation is forecast to peak in the second quarter of 2023 before gradually declining to stabilize around the medium-term target of 5 percent by mid-2024.

Read here: Monetary-Policy-Statement-for-July-2022

Tags: Bank of UgandaCentral Bank RateDr Michael Atingi-EgoInflationSoftPowerSoftPower NewsTop Uganda News

Recent Stories

King Oyo Marks 30 Years on the Throne, Unveils Ambitious Dev’t Agenda for Tooro

NRM Submits Over 2.2 Million Signatures to Endorse Museveni for 2026 Elections

Entebbe Airport Sets New Passenger Traffic Record in August 2025

BoU Cites Rise in Yields and Strong Investor Demand in Treasury Bills Auction

She Data Science Program Launched to Empower Young Ugandan Women With Skills in Artificial Intelligence and Bioinformatics

Africa, Asia Push for Stronger International Law on Climate, Trade and Cyberspace

SoftPower News Logo

SoftPower News is a subsidiary of SoftPower Communications LLC, a Ugandan digital media group. Keep posted of the latest from Uganda and East Africa.
Plot 4B Malcolm X, Kololo
P.O Box 1497, Kampala - Uganda
Tel: +256-392-001-701
Email: info@softpower.ug

This news site is licenced by Uganda Communications Commission (UCC)

ADVERTISEMENT
Stanbic Remittance Ad
  • News
  • Tourism & Travel
  • Business
  • Lifestyle
  • Regional
  • Defence & Security
  • Sport
  • Entertainment
  • More

© SoftPower News

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

error: Content is protected
No Result
View All Result
  • News
  • Tourism & Travel
  • Business
  • Lifestyle
    • Fashion
  • Regional
    • Kenya
    • Rwanda
    • Tanzania
    • Burundi
    • South Sudan
    • DR Congo
  • Defence & Security
  • Sport
  • Entertainment
  • More
    • Agriculture
    • Africa
    • Columnists
    • Education
    • Health
      • COVID-19
    • International News
    • News in Pictures
    • OpEd
    • Pearl Of Africa
    • People
    • Politics
    • Special Reports
    • Women

© SoftPower News

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?