Home » Breaking News, Business » Bank of Uganda Cuts Lending Rate to 17%

By John Kibirige

Bank of Uganda has cut the Central Bank  Rate to 17% from 19%.

The move is aimed at stimulating economic recovery through lower commercial bank lending rates.

The Bank of Uganda (BoU) in July  cut its benchmark lending rate  from 20% to 19%.

BoU in June eased its monetary policy stance and reduced the Central Bank Rate (CBR) to 20 percent from 21 percent in May.