Tag Archives: inflation

The Central Bank Rate raised from 6.5 to 7.5% to tame inflation Kampala, Uganda | JULIUS BUSINGE | Bank of Uganda has for the first time in the last two years raised the central bank rate by 1% percentage point to 7.5% to tame inflation, setting the pace for commercial …

Kampala, Uganda | THE INDEPENDENT | The Central bank on Thursday announced that it was increasing the Central Bank Rate (CBR) to 7.5 percent from 6.5 percent to control the rising inflation. In a statement issued, the Bank of Uganda said it will continue to raise the CBR until inflation is …

Kampala, Uganda | THE INDEPENDENT | The Uganda Shilling continues its downward trend against the US dollar more than two months since its appreciation journey against the dollar was halted. It has since depreciated by more than 200 shillings. The official foreign exchange rate by the Bank of Uganda put the …

Moscow, Russia | Xinhua | Russian President Vladimir Putin said Thursday that those countries, which are attempting to isolate Russia, are primarily only harming their economies. Putin said it would simply be unfeasible and impossible to isolate Russia, and “those, who aspire to do so would harm themselves the most,” during …

Kampala, Uganda | THE INDEPENDENT | Oil and gas companies and the industry regulators are still confident that Uganda’s first oil will flow by 2025, despite the rising global inflation. Most commodities worldwide have registered rapid price increases starting last year as economies reopened following the COVID-19 induced lockdown. The situation …

Kampala, Uganda | THE INDEPENDENT | Experts and think-tanks have warned the government against introducing policies aimed at mitigating the effects of rising commodity prices, but also blamed it for poor management that has allowed the current situation to escalate. Until now, the government has rejected any suggestions that it introduces …

Addis Ababa, Ethiopia | Xinhua | The African continent has become a collateral victim of the ongoing Russia-Ukraine conflict, the Chairperson of the African Union (AU) Commission Moussa Faki Mahamat said Wednesday. “By profoundly upsetting the fragile global geopolitical and geostrategic balance, it (Ukraine conflict) has also cast a harsh light …

Davos, Switzerland | Xinhua | The International Monetary Fund (IMF) on Tuesday warned of further headwinds for the global economy and spiralling inflation around the world due to the conflict in Ukraine, while voicing that China will remain an engine of growth after the “near-term headwinds”. “We are seeing additional weaknesses …

Washington, U.S. | Xinhua | The International Monetary Fund (IMF) chief said on Wednesday that the Russia-Ukraine war has led to food shortages and sharply higher prices, urging the international community to take fast, well-coordinated actions to tackle food crisis. The war has created “a crisis on top of a crisis” …

United Nations | Xinhua | The global economy is predicted to expand by only 3.1 percent this year, down from the 4.0 percent projected in January, largely due to Russia’s special military operation in Ukraine, according to UN’s latest World Economic Situation and Prospects (WESP) report, launched on Wednesday. As the …