These ingredients might point to a more prolonged consumer slowdown. This is not our forecast, but we agreed to monitor the data closely with this downside risk in mind. In this respect, weekly 1/2  BIS central bankers' speeches  survey data suggest that consumer confidence may have bottomed sometime in December.
Our primary objective in Uganda is to hold annual core inflation to an average of 5 percent over the medium term, which we interpret as being over a period of 1–2 years.