Bank of Uganda keeps rate steady at 9.75% amid economic uncertainty

The Bank of Uganda has maintained the Central Bank Rate at 9.75%, signalling a cautious monetary policy stance amid persistent global economic uncertainty. Governor Michael Atingi-Ego stated that the decision reflects contained inflation, averaging 3.4% over the past year, supported by a stable exchange rate, prudent policy measures, and favorable food and energy prices. The economy grew an estimated 6.3% in FY2024/25, up from 6.1% the previous year, driven by export expansion, infrastructure investment, and resilient domestic activity. Growth in FY2025/26 is projected at 6.0–6.5%, with the medium-term outlook remaining positive despite risks from volatile commodity prices, global trade disruptions, and adverse weather.