The Bank of Uganda kept its benchmark interest rate steady at a record low of 7% during its April 2021 meeting. Policymakers noted the economic recovery is proceeding and is stronger than initially projected. Growth picked up in the last quarter of 2020 and the 1.1% contraction for 2020 was lower than initially projected. The economy is seen expanding at 4-4.5 percent in FY2021/22, despite an uncertain outlook as downside risks persist including the ongoing health crisis and limited fiscal policy options to support the economy. Inflation remains favourable but could rise temporarily due to rising food crops, higher taxes and rising international oil prices. The annual headline inflation rate edged up to 4.1% in March from 3.7% in the prior month and is seen around the 5% target in 2021. source: Bank of Uganda
Interest Rate in Uganda averaged 12.13 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 April 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.