Economy

Economy

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 headquarters in Kampala
Economy

Core CPI rises at slowest pace in 19 months

Core consumer prices, which exclude volatile food and energy costs, rose 3.4 per cent in October from a year earlier—the slowest pace since April 2024
The general grocery section of a supermarket
CommoditiesEconomy

IMF upgrades sub‑Saharan Africa forecast as reforms blunt external shocks

The IMF has raised its growth forecast for sub-Saharan Africa, crediting improved macroeconomic management in several large economies and resilience amid external pressures
An outdoor discussion, with two female panellists seated in the chair, and other female holding a microphone and standing, as well as an audience
Economy

Stronger currencies ease inflation pressures across sub-Saharan Africa

Strong currencies have helped curb inflation in several sub-Saharan African countries, giving central banks room to ease interest rates and stimulate business activity
Various currency notes of African countries are seen in this photo
Economy

Business conditions improve for first time in four months

September PMI data shows Uganda’s private sector strengthened for the first time in four months
Downtown Kampala, where wholesale and retail trade are the dominant economic activities, close to the Old Taxi Park and St Balikuddembe Market
Economy

Inflation ticks up, but underlying prices are muted

Inflation picked up pace in September, rising to its highest level in 14 months, driven by a surge in food crop and related item prices
Vegetables and fruit on a stall at Mercat de la Boqueria, Barcelona.
CommoditiesEconomy

Coffee prices drag down earnings despite export uptick

Uganda’s coffee exports rose at the slowest pace in nine months in August, while falling global prices—especially for robusta beans—led to the first drop in earnings since March 2024
A cup of espresso being made in a café
Economy

Private sector activity slows in August

Business activity in Uganda's private sector continued to expand in August, albeit at a slower pace, according to the latest purchasing managers’ index produced by S&P Global
Street scene outside a luggage shop in downtown Kampala
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
Michael Atingi-Ego, Bank of Uganda deputy governor, at a meeting at the bank's Kampala headquarters, February 2024.
Economy

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
The head office of the Bank of Uganda in Kampala
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