Key lending stays at 9.5%

UGANDA’S central bank held its key lending rate at 9.5 percent yesterday, saying earlier policy easing actions had improved economic conditions. Bank of Uganda deputy governor Louis Kasekende said inflation remained subdued – it slowed to 4 percent year-on-year in November – but said risks might come from higher food prices. He said the economy would expand at 5 percent in the fiscal year 2017/18, which had started in July. –