UPDATE 1-Uganda central bank maintains policy rate at 9.75%

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KAMPALA, Dec 5 (Reuters) – Uganda’s central bank left its benchmark interest rate unchanged at 9.75% on Thursday, saying domestic inflation had been subdued and risks to the inflation outlook were balanced.

The decision follows two monetary policy meetings at which the Central Bank Rate was cut.

Annual core inflation was slightly lower at 3.8% in November from 3.9% in October on the back of slower services inflation, particularly passenger transportation.

The Bank of Uganda targets core inflation of 5% in the medium term.

(Reporting by Elias Biryabarema; Editing by Alexander Winning)

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