Barclays rate cut unlikely to excite market

July 9, 2016 in Business, Companies, Finance by Editor

KAMPALA, JULY 9 – Barclays Bank this week joined Stanbic Uganda to announce a reduction in its prime lending rate by a marginal 0.5 percent starting August, a move that is at odds with a 2 percentage reduction in the CBR since April.

Barclays prime will be running at 24 percent, a point above Stanbic whose prime has closely toed movements in the CBR.