Monetary policy
Bank of Uganda holds rate at 12 per cent but raises cost of bank borrowing
The Bank of Uganda held its Central Bank Rate at 12 per cent but widened the band and raised lending margins as it lifted inflation forecasts
Zimbabwe’s government keeps wrecking its money. Indian technology will not fix that
With reserves covering two months of imports and most deposits in dollars, the ZiG has a trust problem that Indian payment technology cannot solve
BoU turns to dollar sales as political warnings meet market pressure
Bank of Uganda sold foreign currency after rate rises failed to halt the shilling’s slide, despite warnings from Museveni and Ggoobi against using reserves
Shilling closes at record low a week after rate rise
Uganda’s shilling closed at Shs4,208.10 to the dollar, a record low, one week after the central bank raised its benchmark rate
Shilling surrenders rate-hike gains as the dollar returns
Uganda’s shilling erased Wednesday’s gains by Friday, with the dollar back above its opening level on the day of the Bank of Uganda’s rate increase
What the Bank of Uganda’s rise to 12 per cent means for the shilling, fuel and loans
How the Bank of Uganda's increase in its policy rate to 12 per cent could affect the shilling, pump prices, and existing loans and savings
Bank of Uganda raises benchmark rate to 12 per cent at special meeting
Uganda’s central bank lifted its rate to 12 per cent, the largest increase since 2011, and raised its inflation forecasts as the shilling weakened
Shilling weakens further as MPs ask why reserves are not used
The shilling closed at Shs4,085.71 on Thursday. Traders expect further losses as MPs ask why the central bank has not used its reserves
Shilling breaches Shs4,000 with reserves nearly double their 2024 level
Uganda's reserves are 86.6 per cent above their February 2024 level, yet the central bank says it plans no dollar sales as the shilling weakensMore Monetary policy
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
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