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Uganda’s central bank cut interest rates on Monday, saying a stable shilling had dampened inflation as it faced calls to also bring down debt auction yields to help the monetary easing feed through to the broader economy.
Making its third cut since April and signalling further reductions ahead, the central Bank of Uganda (BoU) lowered the benchmark policy rate by 100 basis points to 14 per cent, stepping up efforts to boost growth after the economy shrank in the first quarter from the previous one, hurt by a fall in agricultural output.
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