The Bank of Uganda slashed its benchmark interest rate by 50bps to 6.5 percent during its June meeting, bringing borrowing costs to record-low levels. The monetary policy decision aimed at supporting economic growth, amid a sharp reduction in inflation. In May, the country's consumer prices rose 1.9 percent, the least since October 2019 and well below the central bank's mid-point target of 5 percent. source: Bank of Uganda
Interest Rate in Uganda averaged 11.96 percent from 2011 until 2021, reaching an all time high of 23 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 July of 2021.
Interest Rate in Uganda is expected to be 6.50 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 5.00 percent in 2022, according to our econometric models.