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Uganda’s Central Bank slashes lending rate to 9% in bid to spur growth

Uganda’s Central Bank has cut its policy rate by 100 basis points to 9%, as part of efforts to spur economic growth. This is the first rate cut since October 2018. Last month Uganda’s headline inflation rate fell to a 16-month low at easing slightly to 1.9% from 2.1% the month before. CGTN’s Michael Baleke filed this report.

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