Monetary policy
Food and fuel push Uganda’s inflation to its highest since 2023
Annual inflation rose to 4.6 per cent from 4.1 per cent as matooke rose 16 per cent in a month and petrol and diesel stayed 30.9 and 42.5 per cent above last year
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
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
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
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
Bank of Uganda’s Monetary Policy Statement for November 2025: the full text
The central bank's decision reflects its confidence in the improving domestic economic environment, while also acknowledging the ongoing risks posed by the global economy
Bank of Uganda’s Monetary Policy Statement for August 2025 — Full text
On 12 August 2025, the Monetary Policy Committee of the Bank of Uganda maintained the Central Bank Rate at 9.75%, reflecting persistent global economic uncertainty and recurring geopolitical tensions
Central bank holds rates with wait-and-see guidance
The central bank hewed to expectations on Tuesday, keeping its benchmark rate unchanged citing “macroeconomic stability” resulting from coordination between monetary and fiscal policies
Bank of Uganda’s Monetary Policy Statement for May 2025 — Full text
On 13 May 2025, the Bank of Uganda's Monetary Policy Committee (MPC) maintained the Central Bank Rate (CBR) at 9.75 per centMore Monetary policy
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
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 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
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
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
Bank of Uganda’s monetary policy statement for February 2022
Full text of the Bank of Uganda's monetary policy statement for 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
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
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
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
