Bank of Uganda raises policy rate to 12%
By the AFREEQUE newsroom, based on Pmldaily
The Bank of Uganda raised its policy rate from 9.75% to 12%, a 225-basis-point increase decided on 14 October 2026. The measure aims to contain inflation, which rose to 4.6% in September amid fuel prices, exchange rates and tensions in the Middle East, according to the central bank.
The Bank of Uganda has raised its policy rate to 12%, from 9.75%, to contain inflationary pressures linked in particular to rising fuel prices and the weakening shilling. The decision was taken on 14 October by the Monetary Policy Committee, chaired by Governor Michael Atingi-Ego, according to Pmldaily.
The committee raised the rate by 225 basis points at a special meeting. Annual inflation reached 4.6% in September, up from 4.1% in August, driven mainly by higher food and fuel prices.
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Summary produced with the help of artificial intelligence tools, under AFREEQUE’s editorial responsibility.
