Standard Chartered Plc’s Ugandan unit will cut its base lending rate to 26.5 percent from 27.5 percent on July 1 after the central bank eased monetary policy this month, according to a statement published in the Kampala- based New Vision newspaper today.

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

To contact the editor responsible for this story: Paul Richardson at pmrichardson@bloomberg.net.