Tag Archives: inflation

Washington, U.S. | Xinhua | The International Monetary Fund (IMF) on Tuesday slashed the global growth forecast for 2022 to 3.2 percent, down by 0.4 percentage point from the April projection, according to its newly released update to the World Economic Outlook (WEO). Several shocks have hit the world economy already …

Kampala, Uganda | THE INDEPENDENT | The Ugandan borrowing public will continue enduring a high cost of credit for as long as the current inflation and foreign exchange rates continue skyrocketing, according to the Bank of Uganda. This is in response to calls by the private sector, especially the manufacturers, that …

Tororo, Uganda | THE INDEPENDENT | Dozens of Tororo cement workers laid down their tools Monday to compel the management to enhance their salaries given the high inflation. The workers, mainly from the kiln section comprising of electricians, mechanics, lab technicians, and production staff want the management to increase their salaries …

The euro has lost around 12 percent of its value against the dollar since the beginning of this year Rome, Italy | Xinhua | The euro and the U.S. dollar have broadly traded on par with each other this week after a steep devaluation for the euro which experts say will …

Frankfurt, Germany | Xinhua | The Euro on Wednesday briefly slipped below parity against the U.S. dollar in intraday trading after data released by the U.S. Department of Labor showed that the Consumer Price Index (CPI) surged 9.1 percent from a year ago in June. The exchange rate on Wednesday plunged …

Kampala, Uganda | THE INDEPENDENT | Kampala City Trader’s Association-KACITA has called for the reduction of the Central Bank Rate-CBR, saying it has made borrowing from commercial banks very expensive. CBR is the rate that is used by the Central bank to implement or signal its monetary policy stance. It is …

Kampala, Uganda | THE INDEPENDENT | The banking industry is worried over the rate at which the cost of living in Uganda is rising threatening the recovery of the economy. The Uganda Bureau of Statistics reports that headline inflation steadily increased to 6.8 per cent at the end of June, from …

Kampala, Uganda | THE INDEPENDENT | Experts have voiced contrasting views on how the Bank of Uganda is using its policies to control rising inflation. Many argue that the measures could hurt the economy more, at least in the short run. The Central Bank on Tuesday raised its base interest …

Kampala, Uganda | THE INDEPENDENT | Bank of Uganda has decided to raise the Central Bank Rate by a percentage point to 8.5 percent as part of emergency measures against the spiraling inflation. This was decided at Tuesday’s emergency Monetary Policy Committee meeting called by the Central Bank Deputy Governor, Michael …

Washington, U.S. | Xinhua | U.S. President Joe Biden on Wednesday called on Congress to suspend federal gas tax for 90 days, as Americans are frustrated by the nation’s soaring gas prices. “By suspending the 18-cent gas tax — federal gas tax for the next 90 days, we can bring down …