Taarifa Business Desk has reliably learned that Bank of Uganda has raised the Central Bank Rate (CBR) from 9.75% to 12.0% after a special Monetary Policy Committee meeting on 14 October 2026.
Details also indicate that the decision aims to contain rising inflation risks driven by higher fuel prices and exchange rate pressures, while safeguarding price stability.
The Bank also raised the Cash Reserve Requirement (CRR) from 11.0% to 13.5%, effective 24 September 2026, to manage excess liquidity in the banking system and strengthen monetary policy effectiveness.
The extraordinary meeting comes after the central bank held its benchmark interest rate at 9.75% for two years, with its last rate adjustment in October 2024.
BoU’s previous documented emergency MPC meeting was held on 4 July 2022, when it raised rates by 100 basis points to 8.50% to contain accelerating inflation.
The latest meeting raises the possibility of policy tightening or liquidity measures, although the central bank has not announced any decision.
