IMF: Uganda cut policy meetings to improve forecasts
Fed's Kevin Warsh questions efficacy of monthly meetings
The Bank of Uganda halved the number of monetary policy meetings it holds in an attempt to improve its inflation forecasts, according to the International Monetary Fund (IMF), which last week praised the central bank for its "prudent" monetary policy stance.
There is a growing trend among central banks to reduce the number of times they set monetary policy in a year. Once of the first to make the change was the Bank of Uganda which, from June, has set policy on a bimonthly basis.
Last week, in
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