The Bank of Uganda kept its benchmark interest rate steady at 9.75% during its August 2026 meeting, marking the eighth consecutive hold. Policymakers said inflationary pressures remained relatively contained despite higher oil prices. Annual inflation rose to 4% in July, the highest since September 2025, from 3.7% in June, but stayed below the central bank’s 5% medium-term target. Meanwhile, the economy remained resilient, with growth expected to accelerate to 7%-7.5% in FY2026/27, which began in July, from an estimated 6.4% in FY2025/26.