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www.ntvuganda.co.ug Bank of Uganda has raised its benchmark rate, the rate at which it lends to commercial banks, to 20% for October from 16% in September. The move is intended to reduce demand for money and thus rein in on the runaway inflation currently at a 19 year high of 28.4%.
Treasury Two-Year Yield Drops to Record Low on U.S. Jobs, China Growth
Treasuries rallied, pushing the two- year note yield to an all-time low, as U.S. companies added fewer jobs in June than economists forecast and China’s manufacturing growth slowed.
Read more on Bloomberg
India hikes interest rates by 25 basis points
India’s central bank on Friday hiked two key short-term interest rates by 25 basis points in a bid to tame double-digit inflation.
Read more on AFP via Yahoo! News
Duke Says Return to Pre-Crisis Lending May Take Years
Federal Reserve Governor Elizabeth Duke said that while an improving U.S. economy will help reverse a decline in credit, it may take several years for lending to return to pre-crisis levels.
Read more on BusinessWeek
RBI raises short-term rates to contain inflation
Reserve Bank of India on Friday raised short-term lending and borrowing rates.
Read more on rediff.com