The Bank of Uganda lifted its benchmark interest rate by 100 bps to 10% during its October 2022 meeting, to try to tame soaring inflation and boost the shilling. The annual inflation accelerated for the eighth straight month to hit 10% in September, well above the central bank's target of 5%. Policymakers said that headline inflation is forecast to rise and average around 7.3% in 2022, and between 8% to 10% in 2023, before falling back to around 5% in 2024. Meanwhile, domestic economic activity is showing signs of recovery. source: Bank of Uganda
Interest Rate in Uganda averaged 11.41 percent from 2011 until 2022, 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 December of 2022.
Interest Rate in Uganda is expected to be 10.00 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 12.00 percent in 2023 and 10.00 percent in 2024, according to our econometric models.