Uganda and Tanzania on Friday signed an agreement which gives a legal framework to the construction of the East African Crude Oil Pipeline (EACOP).

Uganda's central bank cut its Central Bank Rate (CBR) by another 50 basis points to 11.0 percent, saying there was scope to continue easing its monetary policy stance "given that core inflation is forecast to remain around the medium-term target of 5 percent and in line with efforts to support private sector credit and economic growth momentum."

Uganda's central bank lowered its benchmark Central Bank Rate (CBR) by another 50 basis points to 11.5 percent, saying a "further cautious easing of monetary policy is warranted to support economic activity" as the medium-term outlook for inflation is unchanged despite a worsening of the outlook in the short term.

Uganda's central bank lowered its Central Bank Rate (CBR) by 100 basis points to 12.0 percent as core inflation is expected to remain around the bank's target over the next year despite a pickup in inflation in November.