Tag Archives: BOU

By Julius Businge Bank of Uganda has responded to the rise in banks’ non-performing loans and other assets (NPAs) recorded in 2012 arguing that the rise was mainly attributed to the macroeconomic challenges in 2012. The bank however, in an email to this magazine was quick to say that the …

By Julius Businge The Bank of Uganda has today-Dec. 7 announced that the 1987 series banknotes will cease to be legal tender on March 30, 2013. Addressing a press conference at the Bank’s head offices in Kampala on Dec. 6, Louis Kasekende, the deputy governor said the public should not …

By Julius Businge The central bank of Uganda has marginally reduced the central bank rate to 12% in December down from 12.5% in November, in a bid to boost economic growth. The country’s economy grew at 3.2% in the year 2010/2011 down from 6.7% in 2009/2010, partly because of the …

By Ronald Musoke In a move that perhaps recognizes the economic clout that Ugandans living and working abroad hold in Uganda’s economy today, Bank of Uganda together with the United Nations Development Programme (UNDP) recently initiated a feasibility study to find out if they (Ugandans) are willing to invest in …

By Julius Businge The Bank of Uganda has reduced the central bank rate (CBR) to 12.5% in November from 13% in October with the aim to influence cuts in commercial bank lending rates and boost economic growth, central bank governor Emmanuel Tumusiime Mutebile told reporters in Kampala on Nov. 1. …

By Patrick Kagenda A 73% decline in the value of off-shore investments has forced Bank of Uganda to rethink its policies. BoU Deputy Director of Research, Charles A. Abuka, told a workshop organized for forex bureau operators that the bank was reviewing its fiscal policy programs to fit in with …

By Patrick Kagenda But analysts warn strategy could backfire if inflation spirals Did the Central Bank intervene late last month in the local foreign currency market? According to media reports, unnamed Central Bank officials confirmed it had intervened on March 25 to prop up an already strong dollar against the …