Uganda

2022 - 7 - 3

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Image courtesy of "Bloomberg"

Uganda Convenes Special Interest Rate Meeting as Inflation Jumps (Bloomberg)

Uganda has become Africa's first central bank to call an unscheduled rate meeting since Russia's invasion of Ukraine further upended global supply chains ...

Annual core inflation, which strips out the more volatile food and energy component, accelerated to 5.5% in June, from 5.1% a month prior, and headline price growth quickened to 6.8% from 6.3% in May. The Bank of Uganda said it will hold a special monetary policy committee meeting on Tuesday, days after the release of a report showing core inflation exceeded the central bank’s 5% medium-term target for a second straight month. Uganda’s shilling gained after the nation’s central bank became the first in Africa to convene an unscheduled rate meeting since Russia’s invasion of Ukraine upended global supply chains and caused inflation to surge, prompting speculation that it may hike its key interest rate.

Uganda Shilling Gains as Rate-Setters Call Special Meeting (Financial Post)

Uganda's shilling gained after the nation's central bank became the first in Africa to convene an unscheduled rate meeting since Russia's invasion of ...

The deputy governor at a recent event made it very clear that BOU will continue to increase CBR as long as inflation is above their 5% target” The MPC usually convenes every two months. Annual core inflation, which strips out the more volatile food and energy component, accelerated to 5.5% in June, from 5.1% a month prior, and headline price growth quickened to 6.8% from 6.3% in May.

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Image courtesy of "BNN"

Uganda Convenes Special Interest Rate Meeting as Inflation Jumps ... (BNN)

(Bloomberg) -- Uganda has become Africa's first central bank to call an unscheduled rate meeting since Russia's invasion of Ukraine further upended global ...

The deputy governor at a recent event made it very clear that BOU will continue to increase CBR as long as inflation is above their 5% target” Annual core inflation, which strips out the more volatile food and energy component, accelerated to 5.5% in June, from 5.1% a month prior, and headline price growth quickened to 6.8% from 6.3% in May. A bank spokeswoman wasn’t immediately available for comment.

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Image courtesy of "New Vision"

Central Bank to hold special meeting as inflation shoots (New Vision)

No Comment. The Bank of Uganda will hold a special monetary policy committee (MPC) meeting tomorrow (July 5) after figures from the statistics agency showed an increase in Uganda's inflation. Market players, under normal circumstances, expected the ...

In the near term, growth will be affected by tighter monetary policy conditions and global developments.” The unanticipated MPC meeting is likely to further tighten or increase the benchmark lending rates going forward following a surge in inflation to 6.8% in June from 6.3% registered in May, according to the Uganda Bureau of Statistics (UBOS). The Bank of Uganda will hold a special monetary policy committee (MPC) meeting tomorrow (July 5) after figures from the statistics agency showed an increase in Uganda’s inflation.

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