Uganda

Introduction to ‪#‎Egypt #SouthKorea #Uganda Economy‬

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egypt-4 june 2015-drashti korea-5 june 2015-twisha uganda -4 june 2015-devesh

Introduction to ‪#‎Egypt #SouthKorea #Uganda Economy‬

‪#‎Cairo‬ ‪#‎EgyptianExchange‬ ‪#‎EGX30‬ ‪#‎CentralBankofEgypt‬ ‪#‎USD‬ ‪#‎EGP‬‪#‎ForexReserves‬ ‪#‎EconomicData‬  #KOSPI #SouthKoreanWon ‪#‎JhunjhunwalasFinance‬ #UgandaEconomy #CentralBank #InterestRates #Finance

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Global Central Banks Highlights for Monetary Policy Rates for month of October 2014.

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Global Central Banks Highlights for Monetary Policy Rates for month of October 2014.
Global Central Banks Highlights for Monetary Policy Rates for month of October 2014.

 

Global Central Banks Highlights for Monetary Policy Rates for month of October 2014.

#NationalBankOfRwanda #Rwanda #CentralBankofIceland #Iceland #ECB #EuropeanCentralBank #Europe
#ReserveBankOfAustralia #Australia #BankOfIndonesia #Indonesia #NationalBankOfPoland #Poland
#BOE #BankOfEngland #CentralBankOfTajikistan #Tajikistan #CentralReserveBankOfPeru #Peru
#BankOfUganda #Uganda #BankOfKorea #SouthKorea #NationalBankOfSerbia #Serbia
#CentralBankOfEgypt #Egypt #CentralBankOfChile #Chile #CentralBankOfSrilanka #Srilanka
#BankOfMozambique #Mozambique #CentralBankOfNamibia #Namibia #BankOfCanada #Canada
#BankOfNorway #NorgesBank #Norway  #CentralBankOfPhillipines #Phillipines #CentralBankOfTurkey #Turkey
#BankOfIsrael #Israel  #BankOfMauritius #Mauritius #NationalBankOfAngola #Angola #BankOfAlbania #Albania
#RiksBank #CentralBankOfSweden #Sweden #NationalBankOfHungary #Hungary
#CentralBankOfBrazil #Brazil  #ReserveBankOfNewZealand #NewZealand
#ReserveBankOfFiji #Fiji  #CentralBankOfColombia #Colombia
#BankOfJapan #Japan #BankOfRussia #Russia #RussianFederation
#BankOfMexico #Mexico #America

#MonetaryPolicy #MPR #MonetaryPolicyRate
#InterestRate #RepoRate #PolicyRate #KeyRate

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Monetary Policy Review for Uganda , Peru , Tajikistan and England for 9th and 14th October 2014

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Central Bank of Uganda Maintains Rate at 11% per annum as on 14th October 2014
Central Bank of Uganda Maintains Rate at 11% per annum as on 14th October 2014
Bank of England maintained its Bank Rate at 0.50% per annum as on 9th October 2014
Bank of England maintained its Bank Rate at 0.50% per annum as on 9th October 2014
The Central Reserve Bank of Peru maintains Monetary Policy Reference Rate as 3.50% as on 9th October 2014
The Central Reserve Bank of Peru maintains Monetary Policy Reference Rate as 3.50% as on 9th October 2014
The Central Bank of Tajikistan raised its Benchmark Refinancing Rate to 6.90%  as on 9th October 2014
The Central Bank of Tajikistan raised its Benchmark Refinancing Rate to 6.90% as on 9th October 2014

 

#MonetaryPolicyReview for #Uganda #Peru #Tajikistan and #England for 9th and 14th October 2014

The #CentralBankOfTajikistan raised its #Benchmark #RefinancingRate
by 100 basis points to 6.90% per annum on 9th October 2014
Data compiled and released by the Central Bank of Tajikistan

#BankOfEngland #BOE maintained its #BankRate at 0.5% per annum and
leaves asset purchase program at £375 billion as on 9th October 2014
Data compiled and released by Bank of England

#CentralReserveBankOfPeru maintained its MonetaryPolicyReferenceRate at 3.50 % as on 9th October 2014.
Data compiled and released by Central Reserve Bank of Peru.

#IndonesiaCentralBank maintains its Benchmark #BIRate at 7.5% per annum as on 7th October 2014.
Data compiled and released by Bank Indonesia

#CBR #BOU #Uganda #MonetaryPolicy #CRBP #Peru #MonetaryPolicyRate #PolicyRate
#MonetaryPolicy #NationalBankofTajikistan

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Monetary Policy Review for Bank of Uganda and Central Bank of Chile as on 14th August 2014

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Central Bank Of Chile cuts Monetary Policy Rate on 14th August 2014
Central Bank Of Chile cuts Monetary Policy Rate on 14th August 2014
Central Bank Of Uganda Maintains Central Bank Rate as on 14th August 2014
Central Bank Of Uganda Maintains Central Bank Rate as on 14th August 2014

Monetary Policy Review for #BankOfUganda and #CentralBankOfChile as on 14th August 2014.

Bank of Uganda maintains its #CentralBankRate at 11% per annum
Data compiled and released by Central Bank Of Uganda .

Central Bank of Chile cuts its #MonetaryPolicyRate by 25 Basis Points to 3.50% per annum
Data compiled and released by Central Bank of Chile

#MonetaryPolicy #BancoCentralDeChile #Chile #MPR #CBR #BOU #Uganda

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Uganda Central Bank holds rates in the first week of April

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2nd April 2014

 Uganda’s central bank maintained its Central Bank Rate (CBR) at 11.5 percent, saying its neutral policy stance is warranted given its current projections for inflation and economic growth.
    The Bank of Uganda (BOU), which last cut its rate by 50 basis points in December for a net 50 point reduction in 2013, revised downward its forecast for core inflation to 4-5 percent over the next few months from February’s forecast of 5-6 percent in the first half of the year after headline and core inflation eased in February due to a strengthening of the exchange rate.
    But over the next 12 months, the BOU still sees core inflation rising to between 5.5 and 6.5 percent and cited potential risks of stronger inflation from a deprecation of the exchange rate, stronger domestic demand from the fiscal sector and higher food prices due to drought and regional food shortfalls.
    News agency Reuters reported that BOU Governor Emmanuel Tumusiime-Mutebile told a news conference that core inflation should rise to a range of 6-7 percent by April 2015.
    “The magnitude and timing of possible declines in foreign aid are also a source of uncertainty for the balance of payments and the economy,” said the BOU, which  targets core inflation of 5.0 percent.
    In its monetary policy statement, the BOU referred to a decline in February headline inflation to 6.7 percent from 6.9 percent in January while core inflation fell to 3.7 percent from 4.6 percent.

   But on Monday the bank said, citing Uganda’s statistics bureau, headline inflation rose to 7.1 percent in March from a revised 6.8 percent in February while core inflation fell to 3.7 percent in March from a revised 3.9 percent in February.
    Uganda’s shilling appreciated by 6.2 percent in 2013 but since late February it has declined, trading at 2,545 to the U.S. dollar today compared with 2,525 at the end of 2013.
    The bank said economic growth in the current 2013/14 fiscal year, which ends on June 30, is still projected to be relatively buoyant, supported by fiscal stimulus, a stronger global environment, strong inflows of foreign direct investment and household consumption. However, it said weak bank credit growth posed a risk to this outlook.
    Tumusiime-Mutebile also told a news conference that growth in 2013/14 was expected to be 6 percent compared with 5.8 percent in fiscal 2012/13, rising to 6.5 percent in 2014/15.
    The BOU had forecast growth of 6.0-6.5 percent in the current fiscal year.
    Uganda’s Gross Domestic Product contracted by 0.6 percent in the third calendar quarter from the second quarter for annual growth of 2.2 percent, down from 5.8 percent in the second quarter.

Uganda holds rate, sees lower short-term inflation – Central Bank News.

Global Central Banks Monetary Policy Weekly Review for week ended May 4, 2013

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Monetary Policy Week in Review – May 4, 2013: Europe, India cut rates, Fed assures QE depends on economy – Central Bank News.

 Last week 11 central banks took policy decisions with six banks keeping rates steady (Angola, Albania, the United States, the Czech Republic, Romania and Uganda), Bulgaria raising its rate and four banks cutting rates, most notably the European Central Bank (ECB) and theReserve Bank of India (RBI) along with Denmark and Botswana.
    Both the ECB and the RBI cut their key rates by 25 basis points, both rate cuts were widely expected and both central banks appealed – almost in unison – to their respective governments to get busy on reforming their economies as the problems, as ECB President Mario Draghi said, “cannot be fixed by monetary policy.”
    That sentiment was echoed by the RBI, which said “recent monetary policy action, by itself, cannot revive growth.”
    But that is where the similarities end.
   While Draghi said the ECB is “ready to act if needed,” including pushing the deposit rate into negative territory, the RBI cautioned there was  “little space for further monetary easing” due to inflationary pressures.
    Despite his willingness to act, Draghi is running out of options to reverse Europe’s shrinking economy. Large banks can draw all the money they need from the ECB at a refinancing rate of 0.50 percent while banks that rely on the interbank market for funds pay 6-7 basis points, or “almost zero, ” as Draghi said.
    And a plan to funnel loans to small and medium-sized businesses, mentioned by Draghi last month, turns out to be a very complex undertaking that will not happen in the near term.
    “The ECB cannot clean bank’s balance sheets,” Draghi said, admitting that he was frustrated that his efforts were not ending up with “better welfare, lower unemployment and better economic activity” in the 17-nation euro area.
    The core of the problem is that 80 percent of all loans or credits to businesses in Europe go through the banking system but banks are getting weaker and less able to lend as the ongoing recession increases the share on non-performing loans and toxic assets on their books. Some banks will now have to strengthen their capital base.
    “In Europe, you have to go through banks. You don’t have capital markets of the kind you have in the United States, so that we have to proceed via the banking system,” Draghi said, adding that 80 percent of all financial intermediation in the U.S. goes via capital markets.
    So together with the European Investment Bank (EIB), the ECB is working on ways to package and thus create a market for such loans, known as asset-backed securities (ABSs).
    But it’s far from an easy task and the outcome is far from clear.
    “We do not have a precise position on what we will do,” Draghi admitted, “you have to consider that the ABS market is dead and has been dead for a long time.”
    Another important event in central banking this week was the Federal Reserve’s  statement that it may either increase or decrease the amount of assets it will be purchasing, depending on the state of the U.S. jobs market and inflation.
    Like the Bank of Japan and the Bank of England, the Federal Reserve has been engaged in purchasing various assets, mainly government bonds, to keep long-term interest rates low as a way to  stimulate economic activity when official policy rates hit the zero bound.
    While the Federal Reserve is still sticking to its current plan of buying $85 billion worth of Treasuries and housing-related debt a month, the issue of how and when it will start to curtail these purchases weigh heavily on investors’ minds.
    Although the Federal Reserve has assured markets that its “exceptionally” low target for the federal funds rate will remain in place for quite a while, any sign that it will reduce its asset purchases seems likely to be interpreted as the start of monetary tightening, sending shockwaves through financial markets.
      Every word uttered by members of the Federal Open Market Committee of how and when the Federal Reserve will start to normalize monetary policy is causing jitters in markets, and the debate is likely to dominate sentiment for months.
    Signs of an improving U.S. economy is immediately met by expectations that the Federal Reserve will wind down asset purchases while signs of a worsening economy is seen as a reason for expanding asset purchases.
    By now officially linking its asset purchases to inflation and the jobs market – just like the federal funds rate – the Federal Reserve is seeking to soothe investors’ frayed nerves: Don’t worry, monetary policy will first be tightened when the economy is strong enough to handle it.
    Through the first 18 weeks of this year, 20 percent of the 168 policy decisions taken by the 90 central banks followed by Central Bank News have lead to rate cuts, up from 19 percent after the first 17 weeks.
    Central banks in emerging markets account for 38 percent of this year’s rate cuts, but thanks to this week’s cut by the ECB and Denmark, the ratio of rate cuts by banks in developed markets tripled to 9 percent from 3 percent.
    Central banks from other markets – such as Botswana this week and Mongolia and Georgia in past weeks – account for 41 percent of all rate cuts this year.
    But the overwhelming majority of this year’s decisions by central banks, 76 percent, have gone in favour of holding rates on hold following last year’s spree of rate cuts and the slow, but gradual improvement of the global economy.
LAST WEEK’S (WEEK 18) MONETARY POLICY DECISIONS:
COUNTRY MSCI     NEW RATE         OLD RATE        1 YEAR AGO
ANGOLA 10.00% 10.00% 10.25%
BOTSWANA 9.00% 9.50% 9.50%
BULGARIA FM 0.02% 0.01% 0.15%
ALBANIA 3.75% 3.75% 4.25%
UNITED STATES DM 0.25% 0.25% 0.25%
EURO AREA DM 0.50% 0.75% 1.00%
CZECH REPUBLIC EM 0.05% 0.05% 0.75%
DENMARK DM 0.20% 0.30% 0.60%
ROMANIA FM 5.25% 5.25% 5.25%
UGANDA 12.00% 12.00% 20.00%
INDIA EM 7.25% 7.50% 8.00%
    Next week (week 19) features 13 central bank policy decisions, including Australia, Sri Lanka, Norway, Malawi, Poland, Georgia, South Korea, United Kingdom, Malaysia, Peru, Egypt, the Philippines and Mozambique. New Zealand will be issuing its financial stability report on May 8.
    In addition, the U.K is hosting the spring meeting of Group of Seven (G7) finance ministers and central bank governors on Friday and Saturday. The G7, which has met regularly since 1976, comprises Canada, France, Germany, Italy, Japan, the UK and the USA. Representatives of the European Union, the ECB and heads of international financial institutions also attend the meetings.
COUNTRY MSCI              DATE               RATE        1 YEAR AGO
AUSTRALIA DM 7-May 3.00% 3.75%
SRI LANKA FM 7-May 7.50% 7.75%
MALAWI 7-May 25.00% 16.00%
NORWAY DM 8-May 1.50% 1.50%
POLAND EM 8-May 3.25% 4.75%
GEORGIA 8-May 4.50% 6.00%
SOUTH KOREA EM 9-May 2.75% 3.25%
UNITED KINGDOM DM 9-May 0.50% 0.50%
MALAYSIA EM 9-May 3.00% 3.00%
PERU EM 9-May 4.25% 4.25%
EGYPT EM 9-May 9.75% 9.25%
PHILIPPINES EM 10-May 3.50% 4.00%
MOZAMBIQUE 10-May 9.50% 13.50%

Global Central Bank Monetary Policy in Review for week ended 27th April 2013

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Monetary Policy Week in Review – Apr 27, 2013: One central bank cuts, pressure grows on Europe’s politicians – Central Bank News.

Last week nine central banks took policy decisions, with Hungary continuing its rate-cutting spree and the other eight banks (Namibia, New Zealand, Philippines, Fiji, Japan, Mexico, Colombia and Trinidad & Tobago) keeping rates unchanged as pressure mounted on euro zone policy makers to get serious about reforms and speed up growth.
    A quiet exasperation over the lack of action by Europe’s policy makers turned into more forceful criticism during the annual meeting of the International Monetary Fund in Washington D.C. with signs that the dogged belief in austerity as a growth strategy is starting to break down.
    The other theme dominating central banking last week was the continuing fallout from Japan’s aggressive policy easing, which has lead to a weaker yen and upward pressure on other currencies as some of the Bank of Japan’s money looks for higher yield outside the country.
    The Bank of Korea’s governor expressed his concern over the impact of the weaker yen on the competitiveness of his country’s industry; the Bank of Thailand is considering how to reduce the upward pressure on the bath; the Reserve Bank of New Zealand said upward pressure on the overvalued kiwi dollar was growing and the Bank of Israel said money was flowing into its bonds.
    Last year’s warning by Mervyn King, the outgoing governor of the Bank of England, that 2013 could feature “actively managed exchange rates as an alternative to the use of domestic monetary policy” was prescient and slightly ominous.

    Through the first 17 weeks of this year, the overwhelming majority of the world’s central banks have kept their rates on hold: 78 percent of the 156 policy decisions taken so far by the 90 central banks followed by Central Bank News have lead to unchanged rates, slightly up from 77 percent after 16 weeks.
    Globally, 19 percent of policy decisions this year have lead to rate cuts – largely by central banks in emerging economies – unchanged from last week.
    Rate rises are still rare – there have only been six so far this year – but this number is likely to rise in the second half of the year as global growth slowly strengthens and inflationary pressures rise, especially in Southeast Asia.

    The only real sinkhole in global growth remains Europe and policy makers from around the world appear to be losing their patience with the euro zone’s lack of progress in solving its problems. 
    Through the barrage of statements and communiqués from the IMF and G20 meetings, it is clear that global policy makers have decided that Europe’s experiment with harsh austerity has gone far enough. Recession, popular dissatisfaction and growing unemployment bear witness to the strategy’s failure.
    There was a remarkable confluence of criticism of austerity last week: The validity of the academic work used to underpin pro-austerity policies was questioned; the IMF stressed that fiscal tightening should only occur at a pace that economic recovery can handle – underlining the shift away from its traditional position as an advocate of austerity – while African finance ministers insisted euro zone politicians “work harder and faster” so growth in their own economies isn’t undermined.
    The bottom line is that the fragile global economic recovery may falter without growth in Europe and this year it’s economy is set to contract for the second year in a row.
    And the criticism, all too often shouted through the streets of Athens, Madrid, Rome and Lisbon, is finally being heard by a growing number of top policy makers.
    Christine Lagarde, IMF managing director, talked of  “adjustment fatigue” and growing tensions over the fairness of public policy, while European Commission President Jose Manuel Barroso said the combination of lower spending and higher taxes may have hit the limits of public acceptance and was now contributing to the recession.
    But so far the austerity camp seems unbowed and one its leading proponents, German Chancellor Angela Merkel, even had the audacity to up the ante, saying the European Central Bank would have to raise interest rates if its policy was based purely on German conditions.
    Although Germany is doing better than many of its euro zone brethren, it’s economy is hardly in need of cooling. The German economy shrank by 0.6 percent in the fourth quarter of 2012 from the third quarter and is forecast to grow a mere 0.5 percent in 2013, it’s inflation rate fell to 1.4 percent in March, below the ECB’s target, and the unemployment rate is 5.4 percent.


LAST WEEK’S (WEEK 17) MONETARY POLICY DECISIONS:
COUNTRY MSCI     NEW RATE         OLD RATE        1 YEAR AGO
HUNGARY EM 4.75% 5.00% 7.00%
NAMIBIA 5.50% 5.50% 6.00%
NEW ZEALAND DM 2.50% 2.50% 2.50%
PHILIPPINES EM 3.50% 3.50% 4.00%
FIJI 0.50% 0.50% 0.50%
JAPAN DM 0.00% 0.00% 0.10%
TRINIDAD & TOBAGO 2.75% 2.75% 3.00%
MEXICO EM 4.00% 4.00% 4.50%
COLOMBIA EM 3.25% 3.25% 5.25%
Next week (week 18) features seven central bank policy decisions, including heavyweights the United States, the European Central Bank and India, plus Angola, the Czech Republic, Romania and Uganda.
COUNTRY MSCI              DATE               RATE        1 YEAR AGO
ANGOLA 29-Apr 10.00% 10.25%
UNITED STATES DM 1-May 0.25% 0.25%
EURO AREA DM 2-May 0.75% 1.00%
CZECH REPUBLIC EM 2-May 0.05% 0.75%
ROMANIA FM 2-May 5.25% 5.25%
UGANDA 3-May 12.00% 20.00%
INDIA EM 3-May 7.50% 8.00%