We thank you sincerely for being exemplary. You may be aware that while presiding over the commissioning of the new building for Mbale Bank of Uganda Regional Branch, His Excellency the President stated that Bank of Uganda staff is the most exemplary and professional in Uganda. To this end, I would like to congratulate the entire Bank staff.
While we have had these secondary effects in our forecast for some time, and increased them in our latest projection, these are mostly judgment-based, and the situation could worsen. Accordingly, we present a deeper analysis of this downside risk in today’s MPR, in Box 3.