The Bank of Uganda kept its benchmark interest rate at a record low of 6.5% during its December 2021 meeting, saying that the economy continued to require considerable monetary policy support, despite signs that economic activity is gradually normalizing. Policymakers noted that risks to the growth remain tilted to the downside, owing to persistent global supply chains disruptions and the Omicron variant. The annual inflation hit an eight-month high of 2.6% in November, amid rising prices of food crop prices and energy; and will likely continue to rise as the economy recovers further and spare capacity is absorbed. Still, it should stabilize around the 5% target, contingent on the evolution of the pandemic and the efficacy of vaccines. source: Bank of Uganda
Interest Rate in Uganda averaged 11.74 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 January of 2022.
Interest Rate in Uganda is expected to be 7.00 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 7.00 percent in 2023 and 6.50 percent in 2024, according to our econometric models.