Monetary Policy Statement

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

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

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

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

Bank of Uganda's headquarters in Kampala

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 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

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

The head office of the Bank of Uganda in Kampala

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 Bank of Uganda's headquarters in Kampala

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 crest of the Bank of Uganda on its premises

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

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

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