The Bank of Uganda held its benchmark lending rate for the fifth consecutive time at 10% on August 15th, to support growth, as economic activity slowed in the first two quarters of the year. The GDP growth is projected at 6-6.3% in 2019, supported by strong domestic demand and improvements in the agricultural sector. Over a 2-5 year horizon, growth must remain robust, averaging 6.2 percent per annum. Still, policymakers pointed some downside risks to the outlook, namely external factors linked to a subdued global demand, alongside domestic ones such as weather-related constraints and delays in implementation of public investment programmes. Regarding inflation, though it slowed sharply to a 7-month low of 2.6 percent in July, the near-term inflation forecasts are higher than in June. Interest Rate in Uganda averaged 12.89 percent from 2011 until 2019, reaching an all time high of 23 percent in November of 2011 and a record low of 9 percent in February of 2018.

Interest Rate in Uganda is expected to be 9.50 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 9.25 in 12 months time. In the long-term, the Uganda Interest Rate is projected to trend around 8.75 percent in 2020, according to our econometric models.

Uganda Interest Rate
Forecast Data Chart
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Calendar GMT Actual Previous Consensus TEForecast
2019-02-07 09:50 AM Interest Rate Decision 10% 10% 10%
2019-04-01 09:25 AM Interest Rate Decision 10% 10% 10%
2019-06-18 09:30 AM Interest Rate Decision 10% 10% 9.5%
2019-08-15 09:20 AM Interest Rate Decision 10% 10% 9.5%
2019-10-08 10:00 AM Interest Rate Decision 10% 9.5%
2019-12-13 10:00 AM Interest Rate Decision 9.5%

Uganda Money Last Previous Highest Lowest Unit
Interest Rate 10.00 10.00 23.00 9.00 percent [+]
Money Supply M2 16792.00 17244.40 17244.40 138.70 UGX Billion [+]
Money Supply M3 23879.60 24373.00 24373.00 138.70 UGX Billion [+]
Foreign Exchange Reserves 3342.43 3338.09 3654.45 5.10 USD Million [+]
Loans to Private Sector 15995.27 15809.91 15995.27 244.22 SHS Billion [+]
Deposit Interest Rate 10.26 9.85 39.00 3.54 percent [+]
Money Supply M1 9601.90 10015.80 10015.80 912.60 UGX Billion [+]

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. 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 - actual data, historical chart and calendar of releases - was last updated on September of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
10.00 10.00 23.00 9.00 2011 - 2019 percent Daily

Country Last Previous
Argentina 83.21 Sep/19
Turkey 16.50 Sep/19
Mexico 8.00 Aug/19
Russia 7.00 Sep/19
South Africa 6.50 Sep/19
Brazil 5.50 Sep/19
India 5.40 Aug/19
Indonesia 5.25 Sep/19
China 4.20 Sep/19
Saudi Arabia 2.50 Sep/19
United States 2.00 Sep/19
Canada 1.75 Sep/19
Singapore 1.74 Aug/19
South Korea 1.50 Aug/19
Australia 1.00 Sep/19
United Kingdom 0.75 Sep/19
Euro Area 0.00 Sep/19
France 0.00 Sep/19
Germany 0.00 Sep/19
Italy 0.00 Sep/19
Netherlands 0.00 Sep/19
Spain 0.00 Sep/19
Japan -0.10 Sep/19
Switzerland -0.75 Sep/19