Business
BOU to announce key lending rate tomorrow
The benchmark rate, known as the Central Bank Rate (CBR), serves as a signal to commercial banks on the cost of borrowing and influences interest rates charged on loans across the economy.
Bank of Uganda (BOU). (File)
By: Ali Twaha, Journalist @New Vision
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The Bank of Uganda (BOU) will on Thursday (August 13) announce the benchmark lending rate following a meeting of the Monetary Policy Committee (MPC), the central bank's top monetary policy decision-making body.
The announcement will be made by Governor Michael Atingi Ego through the release of the August 2026 Monetary Policy Statement.
“Whether you run a business, manage a household, have a loan, plan to borrow, or simply want to understand where the economy is headed, the Monetary Policy Statement is worth paying attention to,” BOU said in a statement on X.
The benchmark rate, known as the Central Bank Rate (CBR), serves as a signal to commercial banks on the cost of borrowing and influences interest rates charged on loans across the economy.
“Whether you run a business, manage a household, have a loan, plan to borrow, or simply want to understand where the economy is headed, the Monetary Policy Statement is worth paying attention to,” BOU said in a statement on X.
The benchmark rate, known as the Central Bank Rate (CBR), serves as a signal to commercial banks on the cost of borrowing and influences interest rates charged on loans across the economy.
The central bank has held the benchmark lending rate steady at 9.75% since October 2024 as inflation stayed below its target of 5%.
As at the end of July, the Uganda Bureau of Statistics (UBOS) announced that annual inflation had climbed to 4.0%, up from 3.7% in June, its highest reading in ten months. The Uganda shilling closed July on a weaker footing against the dollar.
Economists, investors and businesses closely watch the MPC’s decision for indications on the central bank’s assessment of inflation, economic growth and overall financial conditions.
As at the end of July, the Uganda Bureau of Statistics (UBOS) announced that annual inflation had climbed to 4.0%, up from 3.7% in June, its highest reading in ten months. The Uganda shilling closed July on a weaker footing against the dollar.
Economists, investors and businesses closely watch the MPC’s decision for indications on the central bank’s assessment of inflation, economic growth and overall financial conditions.