• 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

Central Bank Rate Raised Further

admin by admin
July 13, 2015
in Business
0
Weak shillings- traders cry foul
11
VIEWS
Share on FacebookShare on Twitter

Mark Muhumuza

Businesses and individuals borrowing from commercial banks will be asked to pay more after Bank of Uganda increased key lending rate to 14.5%

Related articles

Business owners challenged to embrace E-postal services

Telecom operator blames Covid-19 for slow uptake of 4G network

This was resolved in an emergency Monetary Policy committee meeting held today.

Addressing journalists, Bank of Uganda governor, Emmanuel Tumusiime Mutebile said the recent exchange rate depreciation has raised the risk of higher inflation.

BOU has thus raised the Central Bank Rate by 1.5 percentage points to 14.55up from last month’s 13%.

The CBR is usually a signal to commercial banks on how much BoU will be lending to them, but also is used to reign in on inflationary pressures.

Commercial banks have in the last four months been raising their lending rates, something which is likely to slow down the appetite for borrowing.

The Shilling yesterday showed signs of recovery closing at Shs3,246 after it had hit Shs3,607 against the dollar last week.

The weak Shilling has already had adverse effects forcing fuel prices to increase. Sugar prices have also shown signs of volatility in the last two weeks.

The Central Bank had last hiked the CBR in 2011 as it sought to tame runaway inflation, which had hit the 30.5 per cent.

In 2011 commercial banks’ lending rates averaged 30 per cent, a situation that saw a number people defaulting on their payment obligations and banks writing off billions of shillings.

admin

admin

Related Posts

Business owners challenged to embrace E-postal services

Business owners challenged to embrace E-postal services

by Noelyn Nassuuna
February 26, 2021
0

By Benjamin Jumbe Business Owners in Uganda have been challenged to take advantage of the new E-postal address to register them. This has been made by...

Telecom operator blames Covid-19 for slow uptake of 4G network

Telecom operator blames Covid-19 for slow uptake of 4G network

by Noelyn Nassuuna
February 23, 2021
0

By Moses Ndhaye Telecom operators in Uganda have blamed the low uptake of 4G Mobile services on the Covid-19 pandemic. The Chief Marketing Officer MTN-Uganda Somdev...

National body to assess quality accreditation agencies in the offing

National body to assess quality accreditation agencies in the offing

by Noelyn Nassuuna
February 23, 2021
0

By Juliet Nalwooga The Ministry of Trade, Industry and Cooperatives is rooting for the establishment of the Uganda National Accreditation Services (UGANAS). Trade minister Amelia Kyambadde says...

Financial institutions asked to make borrowing more affordable

Financial institutions asked to make borrowing more affordable

by Noelyn Nassuuna
February 23, 2021
0

By Moses Ndhaye Financial institutions have been asked to make borrowing more affordable to help support their clients with businesses entities that have been severely affected...

Government improves power supply to Namave industrial park

Government improves power supply to Namave industrial park

by Noelyn Nassuuna
February 18, 2021
0

By Moses Ndhaye Government has completed construction of four industrial park power sub-stations that will supply stable electricity to Namanve, Mukono, Luzira and Iganga industrial parks....

Next Post
MP Medard Ssegona Condemns Police Brutality

Increasing Highway Robberies Worrying Police

MP Medard Ssegona Condemns Police Brutality

MP Medard Ssegona Condemns Police Brutality

Ariong Killer Convicted

Ariong Killer Convicted

CATEGORIES

  • Business
  • Entertainment News
  • Health
  • HotSeat
  • Lifestyle
  • National News
  • News
  • PHOTO GALLERY
  • Sports
  • World News

RECOMMENDED

Auditors tipped on professionalism
Business

Auditors tipped on professionalism

September 14, 2019
Cholera- 53 discharged
Health

Bwera health workers resume work

May 7, 2014
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.