The Bank of Uganda kept its benchmark interest rate steady at a record low of 7% during its February 2021 meeting. Policymakers said that economic recovery has somewhat lost momentum since the last decision in December, adding that the medium-term outlook continues to depend heavily on vaccination rollouts and the course of the virus and its variants. The economic growth is projected at around 3-3.5% in the financial year 2020/21, before accelerating to 4-4.5% and 6-6.7% in FY2021/22 and in the next years, respectively. The annual headline inflation rate ticked up to 3.7% in December from 3.6% in the prior month, and it is seen falling in the next months as the effects of public transport measures dissipate. Meanwhile, Inflation is expected to return to the 5% target. The bank also announced that will extend for six months effective from April 1st 2021 the credit relief measures and also maintain the Covid-19 Liquidity Assistance Program (CLAP) to supervised financial institutions. source: Bank of Uganda
Interest Rate in Uganda averaged 12.22 percent from 2011 until 2021, reaching an all time high of 23 percent in November of 2011 and a record low of 7 percent in June of 2020. 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 February of 2021.
Interest Rate in Uganda is expected to be 5.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Uganda to stand at 5.00 in 12 months time. In the long-term, the Uganda Interest Rate is projected to trend around 6.50 percent in 2022, according to our econometric models.