The Bank of Uganda kept its benchmark interest rate steady at a record low of 7% during its December 2020 meeting, saying the economic recovery was gradually gaining traction amid the loosening of coronavirus restrictions, adding that growth would be above 3% in the financial year 2020-21. Still, economic growth is projected to remain below its potential until 2023/24. Meantime, inflation remains benign and it is projected to be well contained over the medium-term. Headline inflation fell to a six-month low of 3.7% in November from 4.5% in October, amid falling energy and food crop prices. source: Bank of Uganda
Interest Rate in Uganda averaged 12.27 percent from 2011 until 2020, 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 January of 2021.
Interest Rate in Uganda is expected to be 6.00 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 5.00 percent in 2021 and 6.50 percent in 2022, according to our econometric models.