No twelve-month refinancing operations have been offered in 2010. The operation that resulted in the unprecedented liquidity injection of over € billion a year ago reached maturity on 1 July. In the auctions held in the past two weeks banks requested far less than the amounts maturing, resulting in a significant reduction of excess liquidity.
The Bank of Uganda is spearheading the creation of regional intermediaries that will support the efficient trading of Government securities within the integrated financial market framework in the East African Community.