FX.co ★ Uganda Holds Key Policy Rate for 3rd Meeting

On May 13th, 2025, the Bank of Uganda maintained its benchmark interest rate at 9.75% for the third consecutive meeting. The decision reflects concerns over increased global risks affecting the inflation outlook. While the annual inflation rate marginally rose to 3.5% in April from 3.4% in March, core inflation increased to 3.9% from 3.6%, edging nearer to the bank's medium-term target of 5%.