Uganda leaves key lending rate unchanged at 12pc

KAMPALA: Uganda's central bank on Monday held its key lending rate at 12 percent for the second straight month and said subdued domestic demand was a risk to growth in east Africa's third biggest economy.

"The downside risk to the economic outlook is the projection for continued subdued private sector credit growth and high lending rates, which have continued to impact on the private sector spending decisions," Bank of Uganda Governor Emmanuel Tumusiime-Mutebile told a news conference in Kampala.