Emmanuel Tumusiime-Mutebile: Laying the foundation for industrialisation to prosper Opening remarks by Mr Emmanuel Tumusiime-Mutebile, Governor of the Bank of Uganda, at the African Export-Import Bank (Afreximbank) Workshop “Afreximbank: The Trade Finance Bank for Africa”, Kampala, 17 November 2014.
It seems that it did become flatter during the crisis in ways that make inflation slower to react to economic growth. However, it may well be that the curve steepens again once the economy reaches its full potential. So what does all this mean? The key message is that all the factors that are holding down inflation seem to be temporary.