Bank of Uganda decries US-Iran war, decrease in tourists as cause of staggering & 'silly' Shilling
Bank of Uganda decries US-Iran, decrease in tourists as cause of staggering Shilling THE Bank of Uganda (BoU), has decried rampant wars in the middle East specifically the United States (US) - Iran war as one of the causes of the falling Ugandan shilling compared to the US dollar. In a monetary statement for October issued by BoU, it has outlined other factors shrinking our economy and what remedies have been put in place to curb the situation. The Policy Statement reads as follows... "MONETARY POLICY STATEMENT (MPS) FOR OCTOBER 2026* *1. Bank of Uganda (BoU) issued the Monetary Policy Statement (MPS) for October 2026. What is the purpose of the MPS?* - The MPS announces BoU's monetary policy decisions, such as changes to the Central Bank Rate (CBR). The CBR is a policy interest rate that influences loan pricing for individuals and businesses, including mortgages, Treasury bills, and bonds, as well as interbank lending. Ultimately, changes in the CBR affect borrowing costs ...