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Uganda central bank holds key lending rate, says GDP growth moderating

Uganda’s central bank left its key lending rate at 9.0 per cent on Monday, its governor said, adding that economic activity was moderating.

A combination of slowing global economic activity and domestic factors like falling tourism and export earnings in the first 10 months of this year were expected to contribute to a slowing economy, Governor Emmanuel Tumusiime-Mutebile told a news conference.

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