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Bank of Uganda

A stack of Ugandan shilling banknotes—50,000, 20,000, 10,000, and 5,000—arranged in a currency counting machine.
Bank of Uganda

Bank of Uganda tightens liquidity as shilling falls to weakest since 2024

The Bank of Uganda says it can stabilise the shilling, and has raised banks' cash reserve requirement to 13.5 per cent for the second time this year
Several white fuel tankers bearing "Danger Petrol" signs parked on a dirt lot at a storage depot in Jinja, Uganda, under a blue sky.
Inflation

Fuel prices push inflation higher in May

Headline inflation edged up in May as energy and transport costs climbed sharply amid higher global oil prices
The oil and chemical tanker Petrel Pacific moored at a terminal during twilight, discharging ballast water.
Monetary policy

Bank of Uganda’s Monetary Policy Statement for May 2026 — Full text

Monetary Policy Committee keeps rates on hold for a seventh consecutive meeting but raises its inflation outlook as fuel costs begin feeding through
Kampala road in Kampala on a busy day

Rising energy prices push inflation higher in April

Inflation rose to 3% in April as fuel and transport costs increased, highlighting growing energy-driven price pressures
The Bank of Uganda's headquarters in Kampala
Sovereign bonds

February’s bond rally fades as 10-year yield jumps 100 basis points

Uganda's 10-year bond yield rose a full percentage point in two months, partially reversing February's contraction even as investor demand hit exceptional levels
The offices of the Ministry of Finance and Economic Development in Kampala

Uganda’s oil moment approaches — but the risks are multiplying

Uganda's first oil is due in H2 2026, but timing risks, fiscal pressures, and a Middle East conflict cloud the outlook
A stack of Ugandan shilling banknotes—50,000, 20,000, 10,000, and 5,000—arranged in a currency counting machine.

Uganda bonds draw strong demand as yields fall to near two-year lows

Investors accepted sub-coupon rates across all three tenors at February's auction, signalling a marked shift in sentiment towards Ugandan sovereign debt
Michael Atingi-Ego, Bank of Uganda deputy governor, at a meeting at the bank's Kampala headquarters, February 2024.

Bank of Uganda’s Monetary Policy Statement for February 2026: the full text

The Bank of Uganda maintains its 9.75% rate, balancing subdued inflation against global uncertainty and a positive output gap
The sun sets behind the unisphere during day five of the 2009 U.S. Open at the USTA Billie Jean King National Tennis Center on September 4, 2009 in the Flushing neighborhood of the Queens borough of New York City.

Bank of Uganda keeps rates on hold as inflation stays tame and growth holds firm

The Bank of Uganda maintains its 9.75% rate, balancing subdued inflation against global uncertainty and a positive output gap

More Bank of Uganda

12 September 2023

BoU deputy governor’s speech at the launch of Islamic banking in Uganda

Deputy governor says Islamic banking will promote financial inclusion and expand product range

A group photo of Salaam Bank and Bank of Uganda officials in the Central Bank's boardroom
15 August 2023

Monetary Policy Statement for August 2023: the BoU’s full statement

Bank of Uganda cut rates by 0.5 per cent Tuesday, the first adjustment since October 2022, responding to recent economic indicators highlighting the risk of a slowdown in GDP growth. You can read the full statement here

15 August 2023

Bank of Uganda lowers policy rate amid growth concerns

Central bank cites economic indicators as it reduces policy rate to 9.5 per cent for stimulus

The Bank of Uganda in Kampala
14 August 2023

Remarks by BoU deputy governor on fintech’s role in reshaping the banking sector

Bank of Uganda deputy governor urges banks to adapt to technological innovation to remain relevant and competitive

15 February 2022

Bank of Uganda’s monetary policy statement for February 2022

Full text of the Bank of Uganda's monetary policy statement for February 2022

15 February 2022

Central bank holds interest rates steady citing need to support recovery

The Bank of Uganda on Monday held its key lending rate unchanged for the fifth consecutive meeting citing the need to support economic growth and on-target inflation

The Bank of Uganda in Kampala
15 October 2021

Central bank keeps rate unchanged, flags volatile economic and financial conditions

The Bank of Uganda kept its key policy rate unchanged to provide more economic stimulus amidst volatile demand, sluggish private sector borrowing, and the effects of coronavirus restrictions to key sectors

Containers at Mombasa Port in Kenya
14 April 2021

Bank of Uganda holds rates, warns of rising public debt

Central bank maintains key interest rate at record low, noting gradual but subdued economic growth and favourable inflation outlook

The offices of the Ministry of Finance in Kampala.
15 March 2021

More competition, less government debt keys to lower lending rates

Report finds that interest rate spreads and interest rates were the highest in Uganda, compared to regional peers

A retail shopping centre in downtown Kampala, Uganda
15 February 2021

Central bank holds interest rates at record low, extends relief measures

Bank of Uganda said it was keeping its central bank rate unchanged and extending its credit relief and liquidity assistance measures for businesses and financial institutions for six months starting 1 April