Ugandans intending to borrow and
those with loans will have to pay
higher interest rates going forward as
the Central Bank raises its bench
mark rate to 16% from 14.5%, a
second straight rise in just two
months.
The Central Bank’s move and its
economic impact is envisaged by
analysts as an attempt to dissuade
borrowing as BoU struggles to control
the general commodities price
increase driven by the huge fall in the
value of the shilling against the
dollar.