Ugandan Central Bank Now Raises Rates To 16% From 14.5% In July

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Uganda's central bank has raised its benchmark lending rate to 16 percent, barely a month after it raised it to 14.5 percent. So far this year, the bank has added 500 basis points to the central bank rate. The Bank of Uganda says the weakening of its currency against the dollar has heightened inflationary risks. Leon Sseyange with the report.
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Uganda