Summary:
- The Bank of Uganda maintained its 9.5% policy rate for the second consecutive time, with a previous rate cut in August due to inflation falling below the 5% target, and November seeing a slight increase to 2.6% year on year.
On Wednesday, the Bank of Uganda opted to leave its policy rate at 9.5%, marking the second consecutive time it has held steady. This decision follows a 50-basis-point reduction in the lending rate in August, prompted by a year-on-year inflation rate falling below the 5% medium-term target. As of November, inflation has slightly increased to 2.6% year on year, up from 2.4% in October.
