Bank of Uganda vows to keep inflation at a single digit

 By Moses Ndhaye

 The Bank of Uganda has vowed to enforce austerity measures to ensure inflation does not go beyond the single digit.

Early this month, the central bank projected that inflation is to average 7.4 percent and 6.3 percent, respectively, in 2022 slightly higher than the 7.2 percent and the 6.1 percent that were projected in the June 2022 forecast round.

Speaking at the launch of the Mtn-Momo partnership with XENO investment to boost the promotion of collective investment schemes in the country, The Deputy Governor Bank of Uganda Michael Atingi- Ego said the rising inflation retards economic growth and cannot be tolerated.

Written by Noelyn Nassuuna