Uganda central bank holds key lending rate at 10.0%

Shutterstock photo

KAMPALA, Aug 15 (Reuters) - Uganda's central bank held its key lending rate at 10.0% on Thursday, and said economic expansion had slowed in the first two quarters of this year, but higher credit growth and public infrastructure spending still support its prospects.

It is the fifth time in a row that the bank has held the rate steady.

Inflation was 2.6% year-on-year in July from 3.4% in June, while core inflation was 3.5% from 4.9% in June.

He however said there were downside risks to growth.

"Weather related constraints to agricultural production and delays in implementation of public investment programmes could dampen economic activity," he told a news conference.

This article appears in: Stocks , World Markets , Banking and Loans , Politics

More from Reuters


See Reuters News

Research Brokers before you trade

Want to trade FX?