If the commitment to use both policies proactively is pursued further, it has the potential, for the first time in more than a decade, to bring us back sustainably to our inflation aim and to an economy operating at full capacity. A return of macroeconomic policy to the pre-pandemic status quo would be an immense wasted opportunity.
This occasion was organised to pay special tribute to Mr Peter Allum as he prepares to return to Washington. As you may be aware the Bank of Uganda has had the privilege of working very closely with him over the last three years or so.