The Bank of Uganda (BoU) has reduced its policy interest rate – the Central Bank Rate (CBR) – by 2.0 percentage points to 17 percent for the month of August, Professor Emmanuel Tumusiime-Mutebile, Governor, BoU, has announced.
“The reduction in the CBR in August will bring about a further fall in interbank interest rates and thus the marginal cost of funds for the Commercial Banks,” the Governor said during the BoU monthly press briefing at which he issued the Monthly Monetary Statement for August 2012.
