Uganda’s central bank held its key lending rate at 9.0% on Thursday, saying an accommodative monetary policy stance was still needed to support economic growth, whose performance may suffer from weak exports.
Bank of Uganda Governor Emmanuel Tumusiime-Mutebile told a news conference that the recent outbreak of coronavirus in China, and an invasion of desert locusts and uncertain weather patterns could also undermine economic growth.
Uganda is currently battling an invasion of locusts that have hit some parts of the north of the country.
In addition, several people are said to be quarantined by the health ministry over fears they could be having the now feared coronavirus that broke out in China last December.
