By Suzan Kabarwani

Bank of Uganda has for the fourth consecutive month maintained the Central Bank Rate (CBR) at 12 percent .

This was revealed in the Monetary Policy Statement for March 2013, issued to the press by Dr. Louis Kasekende, Deputy Governor.

“Bank of Uganda will maintain the Central Bank Rate (CBR) at 12 Percent in March 2013.The Band on the CBR will remain at +_2 percentage points on the CBR and the margin on the re-discount rate will be maintained at 3 percentage points on the CBR .Consecutively ,the Re-discount rate and the Bank rate will be maintained at 15 percent and at 16 percent respectively .” Said the statement issued on Tuesday at Bank of Uganda headquarters.

Louis Kasekende

Meanwhile the Annual Headline Inflation rate for the year ending February 2013 declined to 3.4% compared to the 4.9% registered for the year ended January 2013.

The Food Crops Annual Inflation rate decreased to a minus 6.2% for the year ending February 2013 compared to the 3.0% registered for the year ended January 2013. The Energy, Fuel and Utilities (EFU) Annual Inflation decreased to a minus 3.3% for the year ending February 2013 compared to the minus 2.1% registered for the year ended January 2013.