The Bank of Uganda’s decision to hike its policy interest rate by a further 100bp, to 17.0%, today appears to be a response to the sharp pick-up in inflation in September. The bulk of the monetary tightening cycle has probably now happened, but with inflation likely to rise further above target we think there is scope for an additional 100bp or so of rate hikes before the end of this year.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services