Kampala, Uganda – January 7, 2025: The Bank of Uganda (BoU) has announced changes to the frequency of its Monetary Policy Committee (MPC) meetings, which review the Central Bank Rate (CBR).
Starting this year, the MPC will meet quarterly, reducing the number of meetings from six to four annually.
The revised schedule aims to provide the committee additional time for in-depth economic analysis, improving the accuracy of forecasting and decision-making. The new quarterly meetings will occur in February, May, August, and November.
The schedule of MPC Meetings for 2025 is as follows: First Meeting: Thursday, February 6, 2025; Second Meeting: Thursday, May 8, 2025; Third Meeting: Thursday, August 7, 2025 and Fourth Meeting: Thursday, November 6, 2025.
The Central Bank Rate, which influences interest rates for regulated financial institutions in Uganda, will now also be updated quarterly in alignment with these meetings.
Despite the revised schedule, the BoU emphasized that the MPC retains flexibility to convene additional meetings if urgent economic developments arise.
The bank reaffirmed its commitment to maintaining transparent communication, with decisions on the CBR being announced through press conferences and official press releases following each meeting.
“This adjustment reinforces our mission to ensure price stability while supporting Uganda’s broader socioeconomic transformation goals,” said Michael Atingi-Ego, Deputy Governor of the Bank of Uganda, in the official press release.
The BoU’s new meeting structure reflects its ongoing efforts to align with global best practices in monetary policy management.