Bloomberg News

Uganda May Start Inflation Targeting Within a Year, Bank Says

June 23, 2011

June 23 (Bloomberg) -- Uganda may start inflation targeting within a year, central bank Deputy Governor Louis Kasekende said.

The East African nation also plans to introduce a monthly central bank rate, Kasekende said in the capital, Kampala, today. The bank’s move to inflation targeting, which it has started testing, has been prompted by the difficulty in using Treasury bills and bonds to control money supply, he said.

To contact the reporter on this story: Fred Ojambo in Kampala at fojambo@bloomberg.net

To contact the editor responsible for this story: Ana Monteiro at amonteiro4@bloomberg.net


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