Bank of Uganda Keeps 9.75% Lending Rate

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The Bank of Uganda kept its benchmark lending rate at 9.75% for the fifth consecutive meeting to contain inflation while supporting economic growth. Core inflation fell to 3.4% in October, prompting the bank to revise its 2025/26 forecast down to 4%–4.5%. The central bank now projects economic growth of 6.5%–7%, up from the earlier estimate of 6%–6.5%, as consumer prices remain relatively subdued in the country.