Interest rates are expected to rise in Uganda this week as the central bank looks for strategies to stem inflation, which rose to 21 per cent in August. The Bank of Uganda meets on Tuesday to deliberate on rising food prices that have put pressure on the economy and weakened the shilling against major currencies. The Uganda shilling slid to a new low of Ush2828.25 against the dollar in the past week, up from Ush2,790 at the beginning of August. Bank lending rates in August went up to 20 per cent compared to 18 per cent in the first half of this year.
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