Uganda c.bank urges lenders to keep narrowing interest rate spreads
KAMPALA, Sept 3
KAMPALA, Sept 3 (Reuters) - Uganda's decision to increase its Central Bank Rate (CBR) should not be taken by commercial banks as a cue to row back on efforts to narrow interest rate spreads which remain very high, Uganda's central bank said on Tuesday.
"The increase in the CBR that I have just announced should not be used by the banks as an excuse to weaken efforts to narrow the interest rate spreads," Bank of Uganda Governor Emmanuel Tumusiime-Mutebile told a news conference. (Reporting by Elias Biryabarmea; Editing by Richard Lough)