EAC officials highlight exchange rate pass-through concerns
Both central banks wary of potential for domestic inflation to increase
Ugandan inflation looks set to rise due to pressure on the country's exchange rate, the country's central bank governor said in a speech on August 25 – representative of a trend across much of the East African Community (EAC).
"External shocks" affecting the country's exports, tourism and foreign direct investment were the main factors behind a significant depreciation of the Ugandan shilling over the last year, Emmanuel Tumusiime-Mutebile said.
Similarly, the National Bank of Rwanda stressed
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