Bank of Uganda

Economy

Fuel prices push inflation higher in May

Headline inflation edged up in May as energy and transport costs climbed sharply amid higher global oil prices
Several white fuel tankers bearing "Danger Petrol" signs parked on a dirt lot at a storage depot in Jinja, Uganda, under a blue sky.
Economy

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
The oil and chemical tanker Petrel Pacific moored at a terminal during twilight, discharging ballast water.
Economy

Rising energy prices push inflation higher in April

Inflation rose to 3% in April as fuel and transport costs increased, highlighting growing energy-driven price pressures
Kampala road in Kampala on a busy day
Economy

February’s bond rally fades as 10-year yield jumps 100 basis points

Uganda's 10-year bond yield rose a full percentage point in two months, partially reversing February's contraction even as investor demand hit exceptional levels
The Bank of Uganda's headquarters in Kampala
CommoditiesEconomyEnergy, Oil & GasTrade

Uganda’s oil moment approaches — but the risks are multiplying

Uganda's first oil is due in H2 2026, but timing risks, fiscal pressures, and a Middle East conflict cloud the outlook
The offices of the Ministry of Finance and Economic Development in Kampala
Economy

Uganda bonds draw strong demand as yields fall to near two-year lows

Investors accepted sub-coupon rates across all three tenors at February's auction, signalling a marked shift in sentiment towards Ugandan sovereign debt
A stack of Ugandan shilling banknotes—50,000, 20,000, 10,000, and 5,000—arranged in a currency counting machine.
Economy

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
Michael Atingi-Ego, Bank of Uganda deputy governor, at a meeting at the bank's Kampala headquarters, February 2024.
Economy

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
The sun sets behind the unisphere during day five of the 2009 U.S. Open at the USTA Billie Jean King National Tennis Center on September 4, 2009 in the Flushing neighborhood of the Queens borough of New York City.
Economy

Inflation inches up to 3.2% on higher transport and service costs

January inflation rose to 3.2% as service costs jumped, offsetting easing food price pressures from December
Increasing piles of coins with a red arrow on a square patterned background.
EconomyEnergy, Oil & GasOpinion

Michael Atingi-Ego’s keynote speech at the 6th National Content Conference

Bank of Uganda governor charts Uganda's path from $50bn to $500bn economy, anchored in oil-funded transformation and intergenerational equity
A man in a business suit delivers a speech from behind a lectern.
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