Monetary policy

Economy

Interest rates raised by 0.5% to stem shilling’s slide

The Central bank raised its key interest rate at an emergency meeting to stem a “sharp depreciation” of the shilling caused by offshore investor outflows and in the wake of resurgent inflation
The Bank of Uganda's headquarters in Kampala
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

BoU keeps rates on hold, raises inflation forecast

Bank of Uganda said that economic activity continues to strengthen, although the weakening shilling could lead to a modest increase in inflationary pressures
Bank of Uganda's headquarters in Kampala
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

Bank of Uganda maintains policy rate at 9.5%

Central bank kept its key policy rate unchanged, as well as the rediscount rate and the bank rate
Bank of Uganda's headquarters in Kampala
Economy

Inflation edges up for first time since February

Inflation rose for the first time in ten months in November, driven by an increase in services prices, although the closely watched core consumer prices indicator was unchanged
Kampala road in Kampala on a busy day
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

Bank of Uganda keeps policy rate on hold as inflation eases

The central bank on Thursday kept its policy rate unchanged, stating that its current policy stance aligns with its inflation outlook and supports economic growth
The Bank of Uganda Coat of Arms at the Bank of Uganda HQ in Kampala, Uganda
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
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