August 14, 2014 / 9:31 AM / 4 years ago

Uganda's central bank keeps key lending rate unchanged

KAMPALA, Aug 14 (Reuters) - Uganda’s central bank kept its key lending rate unchanged at 11 percent on Thursday, saying the east African country’s economy was continuing to register growth.

Bank of Uganda (BoU) or central bank Governor Emmanuel Tumusiime-Mutebile said lending interest rates had eased over last 12 months, and private sector credit was also growing.

The key lending rate was cut to 11 percent in June as Tumusiime-Mutebile voiced concerns that the downside risks meant Uganda would not be able to return to the 7 percent level it had achieved in previous years. (Reporting by Elias Biryabarema; Editing by James Macharia)

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