Fitch Ratings has affirmed Uganda's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'B+' with a Stable Outlook.

Uganda's central bank left its Central Bank Rate (CBR) at 9.0 percent but said the risks to its inflation forecast had moved to the upside from rising import prices, a recovery of food prices, a closing of the negative output gap and a planned increase in taxes.

Uganda's central bank cut its Central Bank Rate (CBR) by 50 basis points to 9.00 percent, saying "a cautious easing of monetary policy is warranted to further boost private sector credit growth and to strengthen the economic growth momentum" given the spare capacity in the economy and the objective of keeping inflation close to the target.

Uganda's central bank left its Central Bank Rate (CBR) at 9.5 percent, saying the near-term outlook for inflation remains subdued while economic growth is expected to expand at a solid pace, boosted by public investments, growth in consumption and monetary stimulus.