Uganda keeps lending rate at 12 pct -cbank governor
KAMPALA Oct 2 (Reuters) - Uganda's central bank held its benchmark lending rate at 12 percent on Wednesday, with the bank saying the recent spike in inflation due to rising food prices was temporary.
"Given that core inflation is forecast to fall back to the BoU policy target over the medium term, I believe that it is warranted to maintain a neutral monetary policy stance for this month," Bank of Uganda Governor Emmanuel Tumusiime-Mutebile told a news conference.
(Reporting by Elias Biryabarema; Editing by Drazen Jorgic)
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