Monetary policy
Bank of Uganda tightens liquidity as shilling falls to weakest since 2024
The Bank of Uganda says it can stabilise the shilling, and has raised banks' cash reserve requirement to 13.5 per cent for the second time this year
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
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 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
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
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
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’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 pointsMore Monetary policy
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
Business activity slows in March
Activity in Uganda's economy contracted for the first time in 20 months in March, according to an official survey, as a drop in money supply suppressed consumer demand
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
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
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
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
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
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
Bank of Uganda maintains policy rate at 9.5%
Central bank kept its key policy rate unchanged, as well as the rediscount rate and the bank rate
Inflation edges up for first time since February
Inflation rose for the first time in ten months in November, driven by an increase in services prices, although the closely watched core consumer prices indicator was unchanged
