Central Bank of Uganda to target core inflation at 5%

Bank of Uganda

Bank of Uganda

The central bank of Uganda could reduce the amount of money in circulation if by June the inflation situation in the country persists

According to the supervision department of the bank of Uganda , the move is to address inflation that is caused by factors within the country

At the moment the headline inflation that concerns food and energy is standing at 11.1% because of factors outside the control of Uganda like the middle East crisis, other importing countries like India and china which are facing the same crisis.

However, the kind of inflation that the bank of Uganda is looking at reducing is that which is caused by domestic factors within Uganda which if controlled could in turn control the hike in prices of goods and services.

The move by central bank to take control of the economy comes in the wake of government’s demand for a supplementary budget of over 150 billion shillings, an aspect that international monetary fund says may hamper the central’ bank’s effort to reducing the core inflation that stands at 7.8%.

Bank of Uganda has now launched a quarterly survey to be able to get to the real causes of factors that hamper businesses and increase cost of operation which in turn hike the cost of living.

Click here to post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Africa Uganda Business Travel News .

Haven't yet found what you Want...?

If you haven't yet found what you were looking for or you need detailed information about the subject matter on this page


feel free to ask our business travel consultants.

Enjoy this page? Please pay it forward. Here's how...

Would you prefer to share this page with others by linking to it?

  1. Click on the HTML link code below.
  2. Copy and paste it, adding a note of your own, into your blog, a Web page, forums, a blog comment, your Facebook account, or anywhere that someone would find this page valuable.