Monetary Policy Statement

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

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’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

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

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 cent
Bank of Uganda headquarters in Kampala
Economy

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

The central bank's Monetary Policy Committee voted to reduce its benchmark interest rate by 25 basis points
The head office of the Bank of Uganda 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’s Monetary Policy Statement for December 2023 — Full text

BoU's monetary policy committee maintained the central bank rate at 9.5 per cent
The crest of the Bank of Uganda on its premises
Economy

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's headquarters in Kampala
Economy

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
12 Next