Interest rates

Economy

BoU cuts rates, lowers inflation forecast

The Bank of Uganda cut its benchmark interest rate, the first easing since March when borrowing costs were raised in response to the sharp depreciation of the shilling
The Bank of Uganda's headquarters in Kampala
Economy

Bank of Uganda’s Monetary Policy Statement for March 2024 — Full text

On 6 March 2024, a special meeting of the Bank of Uganda's Monetary Policy Committee increased the Central Bank Rate to 10 per cent
Michael Atingi-Ego, Bank of Uganda deputy governor, at a meeting at the bank's Kampala headquarters, February 2024.
Economy

BMI forecast: Interest rates to fall by 1% by year-end

Research firm says Bank of Uganda will keep policy rate at 9.5% in first half due to rising inflation, but will cut by 1% by year-end as inflation stabilises below target
The Bank of Uganda's headquarters in Kampala
Economy

Bank of Uganda’s Monetary Policy Statement for February 2024 — Full text

The Bank of Uganda's Monetary Policy Committee kept its benchmark interest rate unchanged at 9.5 per cent at its meeting on 6 February
The Bank of Uganda's headquarters in Kampala
Economy

Private sector credit growth drops in December

Lending to the private sector slowed in December due to a decline in microfinance loans and stagnant growth in commercial bank loans
Crested Towers in Kampala, with the shorter tower housing offices of Stanbic Bank
Personal Finance

Tips for borrowing money: What’s acceptable and what’s not

While the holidays may tempt you to let your financial guard down, it's important to reflect on your financial portfolio to avoid sinking deeper into debt
A young woman sitting at a table with a laptop, several notebooks, and a calculator
Economy

BoU’s Monetary Policy Statement for December 2023 — Full text

BoU's monetary policy committee maintained the central bank rate at 9.5 per cent
The crest of the Bank of Uganda on its premises
Economy

Monetary Policy Statement for October 2023: BoU’s full statement

On 5 October 2023, Bank of Uganda's Monetary Policy Committee maintained the Central Bank Rate at 9.5 per cent
Bank of Uganda's headquarters in Kampala
Economy

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
EconomyPolitics & Policy

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
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