Bank of Uganda Won't Bow for Political Pressure – Governor

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Bank of Uganda Governor Professor Emmanuel Tumusiime Mutebile says that Bank of Uganda should be held accountable specifically for what it is mandated to do by law but not what people think outside the legal frames work. His statement is in response to the mounting pressure on the Central Bank to cap the excessive interest rates with many Political actors questioning the role of Bank of Uganda. The governor, who was meeting Members of Parliament this morning, defended the high lending rates as the most efficient toll to maintain micro economic stability.