Uganda central bank cuts key lending rate to 13 pct

Uganda's central bank cut its benchmark lending rate on Tuesday to 13 percent from 14 percent, saying there was room to support growth by easing. Core inflation dipped to 4.8 percent last month from 5 percent in August, while the economy expanded by 4.8 percent in the financial year ended June, up from an earlier estimate of 4.6 percent, bank governor Emmanuel Tumusiime-Mutebile said. Growth is expected to be 5.0 percent in this fiscal year, he said, while core inflation would remain around the