BoU Holds CBR at 17%, Projects Decline in Global Commodity Prices

Government and opposition have Tuesday held a dialogue to forge a way forward in ensuring free and fair elections come 2016.

This was part of a series of discussions that commenced on November 23 to take stock of the action plans earlier agreed upon.

During a joint press statement with the head of opposition in parliament Hon Wafula Oguttu and Hon Muwanga Kivumbi, drug the Prime Minister said that peace and stability of the country is for a common good and must be guarded collectively.

“We noted with appreciation that so far, viagra 100mg the campaign rallies which have taken place have been conducted in a peaceful manner and called for upholding the statusquo,” read the statement.

Key among issues discussed was the recruitment of crime preventers by the Uganda police and emphasis was made on ensuring their impartiality.

“We agreed that crime preventers should only operate in their local communities. It was further agreed that an enabling law should be put in place to guide the implementation of community policing including activities of crime preventers,” said Rugunda.

Government officials and opposition members in the meeting today
Government officials and opposition members in the meeting today

The formation of crime preventing groups has since sparked concern they could be used to perpetrate violence against the opposition in the national election exercise.

On his part, Oguttu observed: “At least, we have noticed a drop in the visibility of militias like Kakooza Mutale’s Kalangala Action Plan. We appreciate crime preventers’ role of community policing but we agreed that they should be recruited in their villages and not be deployed from place to place.”


It was also agreed that serving army officers must desist from engaging in partisan politics and that action should be taken against those who act in defiance.

Regarding voter bribery, both parties resolved that the Electoral Commission devises measures to deal with the vice and to prevent candidates from using money to influence the electorate.

Hon Wafula noted that the opposition is concerned about the imbalance in media coverage during the campaigns and urged the press to report objectively.

The meeting held at the Office of the Prime Minister was attended by the Chairman Electoral Commission Eng Badru Kiggundu, Defense Minister Dr Crispus Kiyonga and Security Minister Karooro Okurut on the government side.

The Chief of Defense Forces Gen. Katumba Wamala and Inspector General of Police Gen. Kale Kayihura were also part of the delegation.

Among those who represented the opposition were Shadow Attorney General Hon. Abdu Katuntu, Hon Kaps Fungaroo and Hon Muwanga Kivumbi.
By Geoffrey Omara 

A 24 year old man on Monday killed his eight year old child in a domestic quarrel gone wrong.

The incident took place at Odeo corner, ailment Aboko parish, website like this Apac Sub County.

According to the mother of the deceased Harriet Ocaya, drugs her  husband  Benson Ocaya  returned home drunk on Sunday around  9.30 pm and a quarrel ensued between the two.

She said during the fight, the husband accidentally killed the child.

The neighbors allege that on the night of the murder, they had the couple in a heated argument.

The case is registered at Aduku central police station under; CRB596/2015 and the body of the deceased is at Aduku health centre IV.

By press time, investigation had not yet commenced and the suspect was under police custody.
Bank of Uganda has announced that annual inflation rose from 8.8 percent to 9.1 percent in November whereas core inflation increased to 6.7 percent from 6.3 percent.

The Governor Bank of Uganda Tumusiime Mutebile was on Wednesday issuing the Monetary Policy Statement for December 2015 at a press briefing at BoU headquarters.

According to Governor Mutebile, mind the increase in inflation was majorly influenced by high food crop prices, click increase in electricity tarrifs and effects of exhange rate depreciation.

“Amidst this rise however, ampoule monthly core inflation has stabilized in the last 3 months following an upsurge earlier this year,” he said.

The Central Bank projects that real economic growth for the 2015/16 Financial year will remain at 5 percent but citing possible downside risks resulting from the external economic turbulence.

Mutebile was skeptical that this situation could deteriorate further over the next 12 months.

On the exchange rate depreciation, he said; “The upward impact has been partly offset by much lower services inflation resulting from the tightening of monetary policy since April.”

BoU further projects that global commodity prices could further decline and access to finance for developing countries as well.

“Our current inflation forecast over 12 month horizon is lower than the estimate that was communicated in October 2015,” Mutebile noted.

“We forecast that annual core inflation will peak at around 10 percent in the third quarter of 2016 and gradually decline towards the 5 percent target over the medium term.”

The Central Bank Rate (CBR) will be maintained at 17 percent in a bid to stabilize the core inflation and returning it to the target of 5 percent over the medium.

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