The Bank of Uganda left its benchmark interest rate unchanged at 9.75% on May 14, 2026, marking the seventh consecutive meeting without changes. Policymakers said the current policy stance remains appropriate, even as the Middle East conflict poses inflation risks and clouds the outlook for Uganda’s economy due to uncertainty over its duration and severity. The headline inflation rate rose to 3% in April, up from an over two-year low of 2.8% in March, but stayed below the medium-term target of 5%. The MPC assessed that inflation could rise moderately during the second half of 2026 before stabilising around the medium-term target. Meanwhile, the GDP growth projection for FY2026/27 was kept at 6.5%-7%, with the economy projected to expand by around 8% on stronger exports and investment. The central bank raised the Cash Reserve Requirement (CRR) to 11% from 9.5% in March 2026 to manage liquidity in the banking system and keep inflation expectations anchored. source: Bank of Uganda

The benchmark interest rate in Uganda was last recorded at 9.75 percent. Interest Rate in Uganda averaged 11.02 percent from 2011 until 2026, reaching an all time high of 23.00 percent in November of 2011 and a record low of 6.50 percent in June of 2021. This page provides the latest reported value for - Uganda Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Uganda Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on May of 2026.

The benchmark interest rate in Uganda was last recorded at 9.75 percent. Interest Rate in Uganda is expected to be 9.75 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Uganda Interest Rate is projected to trend around 8.50 percent in 2027 and 8.00 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-11-10 10:25 AM Interest Rate Decision 9.75% 9.75% 9.75%
2026-02-09 09:40 AM Interest Rate Decision 9.75% 9.75% 9.75%
2026-05-14 10:30 AM Interest Rate Decision 9.75% 9.75% 9.75%
2026-08-13 12:00 PM Interest Rate Decision 9.75%
2026-11-12 12:00 PM Interest Rate Decision


Related Last Previous Unit Reference
Deposit Interest Rate 11.02 11.13 percent Mar 2026
Foreign Exchange Reserves 6007.56 5636.02 USD Million Mar 2026
Interest Rate 9.75 9.75 percent May 2026
Loans to Private Sector 29035.18 28463.25 UGX Billion Mar 2026
Money Supply M1 21713.50 23467.10 UGX Billion Mar 2026
Money Supply M2 37614.70 38780.90 UGX Billion Mar 2026
Money Supply M3 51020.60 51541.70 UGX Billion Mar 2026


Uganda Interest Rate
In Uganda, interest rates decisions are taken by the Bank of Uganda. The Bank of Uganda official interest rate is the central bank rate.
Actual Previous Highest Lowest Dates Unit Frequency
9.75 9.75 23.00 6.50 2011 - 2026 percent Daily

News Stream
Uganda Keeps Policy Rate at 9.75%
The Bank of Uganda left its benchmark interest rate unchanged at 9.75% on May 14, 2026, marking the seventh consecutive meeting without changes. Policymakers said the current policy stance remains appropriate, even as the Middle East conflict poses inflation risks and clouds the outlook for Uganda’s economy due to uncertainty over its duration and severity. The headline inflation rate rose to 3% in April, up from an over two-year low of 2.8% in March, but stayed below the medium-term target of 5%. The MPC assessed that inflation could rise moderately during the second half of 2026 before stabilising around the medium-term target. Meanwhile, the GDP growth projection for FY2026/27 was kept at 6.5%-7%, with the economy projected to expand by around 8% on stronger exports and investment. The central bank raised the Cash Reserve Requirement (CRR) to 11% from 9.5% in March 2026 to manage liquidity in the banking system and keep inflation expectations anchored.
2026-05-14
Uganda Holds Key Policy Rate at 9.75%
The Bank of Uganda kept its key interest rate steady at 9.75% on February 9, 2026, marking a sixth straight hold, saying the stance remains appropriate to support growth while keeping inflation near target amid global uncertainty. The central bank noted that Inflation has remained below the medium-term target of 5%, reflecting the impact of prudent monetary policy and fiscal coordination, a stable exchange rate, declining global inflation, and favorable food and energy prices. Headline inflation edged up to 3.2% in January from 3.1% in December and is projected to remain slightly below target in 2026, within a 3.8%-4.3% range, before stabilizing over the medium term. However, the central bank cautioned that risks remain elevated, including stronger domestic demand and geopolitical uncertainty. Growth is projected at 6.5%-7% in FY2025/26, with medium-term growth expected to rise to around 8% on increased public investment and oil-related infrastructure projects.
2026-02-09
Uganda Leaves Key Policy Rate at 9.75%
The Bank of Uganda maintained its benchmark interest rate unchanged at 9.75% on November 10, 2025, marking the fifth consecutive meeting with no adjustments. The decision was aimed at containing inflation while also supporting economic growth amidst global uncertainties. Inflation has remained relatively subdued in recent months, dipping to a seven-month low of 3.4% in October. Core inflation fell to its lowest since March 2024 at 3.4%. The central bank revised down its core inflation forecast for 2025/26 to 4%–4.5%, from the August estimate of 4.5%–4.8%. Economic growth is now seen around 6.5%-7% in this fiscal year, up from an earlier forecast of 6%-6.5%.
2025-11-10