Uganda central bank holds its key lending rate at 9.0%

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KAMPALA (Reuters) – Uganda’s central bank held its key lending rate at 9.0% on Thursday, saying an accommodative monetary policy stance was still needed to support economic growth, whose performance may suffer from weak exports.

Bank of Uganda Governor Emmanuel Tumusiime-Mutebile told a news conference that the recent outbreak of coronavirus in China, and an invasion of desert locusts and uncertain weather patterns could also undermine economic growth.

Reporting by Elias Biryabarema; Editing by George Obulutsa

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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