Bank of Uganda

Economy

BoU cuts rates, lowers inflation forecast

The Bank of Uganda cut its benchmark interest rate, the first easing since March when borrowing costs were raised in response to the sharp depreciation of the shilling
The Bank of Uganda's headquarters in Kampala
Economy

Bank of Uganda raises rates to highest levels in nearly 7 years, nods to strong inflation pressures

The Bank of Uganda raised interest rates for the second time in as many months on Monday, citing the risk of increased inflationary pressures due to a weak shilling
The Bank of Uganda's headquarters in Kampala
Economy

Bank of Uganda’s Monetary Policy Statement for March 2024 — Full text

On 6 March 2024, a special meeting of the Bank of Uganda's Monetary Policy Committee increased the Central Bank Rate to 10 per cent
Michael Atingi-Ego, Bank of Uganda deputy governor, at a meeting at the bank's Kampala headquarters, February 2024.
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

Consumer prices jump, closing door on interest rate cuts

Consumer prices rose in January on higher transport and other service costs, pushing up the core inflation gauge preferred by policymakers
Statistics House in Kampala, headquarters of the Uganda Bureau of Statistics
BankingEconomy

BoU releases more information on EFC Uganda depositor payout

Bank of Uganda on Tuesday released more information on how depositors of the liquidated microfinance EFC Uganda Limited can access their funds
An EFC Uganda Ltd branch. The microfinance deposit-taking institution was closed by the Bank of Uganda on 19 January 2024 for failing to meet minimum capital requirements and for what the regulator called “poor corporate governance.”
BankingCompaniesEconomy

Bank of Uganda shuts down EFC Uganda, takes control

Bank of Uganda shut down the microfinance institution on Friday, citing failure to meet minimum capital requirements and 'poor corporate governance'
An EFC Uganda Ltd branch. The microfinance deposit-taking institution was closed by the Bank of Uganda on 19 January 2024 for failing to meet minimum capital requirements and for what the regulator called “poor corporate governance.”
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