• Home
  • About
  • Join Us
  • Contact
93.3 KFM
  • Home
  • HotSeat
  • News
    • Business
    • Health
    • Sports
    • Lifestyle
  • Events
  • Contact Us
  • Promotions
  • Presenters
  • PHOTO GALLERY
No Result
View All Result
  • Home
  • HotSeat
  • News
    • Business
    • Health
    • Sports
    • Lifestyle
  • Events
  • Contact Us
  • Promotions
  • Presenters
  • PHOTO GALLERY
Subscribe
No Result
View All Result
93.3 KFM
No Result
View All Result
Home Business

BOU speaks out on Shilling, lending rates

by
November 2, 2012
in Business
0
39
VIEWS
Share on FacebookShare on Twitter

Bank of Uganda says it cannot control the exchange rate changes.

Related articles

Low coffee consumption affects prices, incomes

Govt to invest Shs 10 billion in rejuvenating coffee sector

This comes at a time when the exchange rate fluctuations have been highlighted as a major factor affecting the performance of the economy with the latest being the Uganda Revenue
Authority revenue collections deficit.

Similarly the weakening of the shillings experienced in the last two weeks contributed to the hiking of fuel prices

The export promotions board has asked the Bank of Uganda to explain how best the shillings could be managed because it also affected exports.

However Bank of Uganda says it has no control over the exchange rate because it’s a free market.

The Governor Emmanuel Mutebile says the Central Bank can only come in when the Shilling has sharply fallen in value.

Meanwhile, Mutebile says commercial banks still have a long way to go in the cutting of lending rates.

He says much as there has been some reduction in lending rates by commercial banks, the rate at which the cuts are made is low compared to the cuts of the central bank rates.

The Central Bank rate has been reduced by a big margin of 10 percentage points compared to 2 percentage points by commercial banks.

 

 

Related Posts

Coffee farmers tipped on accessing international market

Low coffee consumption affects prices, incomes

by Moses Ndhaye
August 2, 2022
0

Low consumption has continued to affect Uganda’s coffee prices and the incomes that the farmers are supposed to earn. According to the chief operating officer at...

Coffee farmers advocate for valve addition policy

Govt to invest Shs 10 billion in rejuvenating coffee sector

by Moses Ndhaye
August 2, 2022
0

The government, through the Private Sector Foundation Uganda (PSFU) is set to invest over Shs 10 billion in the coffee sector to create about 25,000 jobs...

Commonwealth proposes recovery plan for tourism

Bankers call for more funding for tourism sector

by Noelyn Nassuuna
July 26, 2022
0

By Ritah Kemigisa The Uganda Bankers Association has underscored the need for the government to increase funding to the tourism sector in Uganda. Uganda this financial...

Murderers, defilers must die- Museveni tells judiciary

President Museveni woos US entrepreneurs

by Noelyn Nassuuna
July 26, 2022
0

By Prossy Kisakye President Museveni continues to woo foreign entrepreneurs, in a move meant to boost Uganda’s export trade. The latest to be targeted is the...

Taxi drivers in Jinja go on strike over high fuel prices

Taxi drivers in Jinja go on strike over high fuel prices

by Noelyn Nassuuna
July 25, 2022
0

By Abubaker Kirunda Taxi drivers in Jinja city have gone on a sit-down strike while protesting against the skyrocketing prices of fuel in the country. The...

Next Post

Maburg: 2 more deaths reported

Conjoined twins fight for life

Conjoined twins have died

CATEGORIES

  • Business
  • Entertainment News
  • Health
  • HotSeat
  • Lifestyle
  • National News
  • News
  • PHOTO GALLERY
  • Sports
  • World News
Museveni promotes Enanga, 772 other police officers

Museveni promotes Enanga, 772 other police officers

August 5, 2022
US announces extra Shs 77billion food crisis aid

US announces extra Shs 77billion food crisis aid

August 5, 2022
Museveni assures nation on reopening of schools

Museveni speaks out on floods in Eastern Uganda

August 5, 2022
93.3 KFM

Kampala's #NumberOne radio station for better information and the best music ! KFM is a subsidiary of Nation Media Group;
@NationMediaGrp

© 2021.

No Result
View All Result
  • Home
  • HotSeat
  • News
    • Business
    • Health
    • Sports
    • Lifestyle
  • Events
  • Contact Us
  • Promotions
  • Presenters

© 2021.