Middle East and Africa

Bank of Uganda

Too few recent speeches for a current tone.

Speeches: 156
First speech: Mar 4, 2005
Latest speech: May 5, 2026
Tone vs coming rate moves: Not tested; too few speeches or no published rate

Does the tone run ahead of the rate?

Speech tone over the previous three months, and the policy rate at the end of each month, on the same timeline. Hover over either chart to read the same month in both.

Speech tone

Policy rate

The BIS does not publish a policy rate for this central bank, so only its tone is shown.

Latest speeches

Each speech's tone is the average over its sentences about policy, prices, rates or the economy. Open a speech to read it in full.

Date	Speech	Tone
May 5, 2026	Michael Atingi-Ego: Launch of Centenary Bank's Custodial Services Michael Atingi-Ego	+0.21
Apr 29, 2026	Michael Atingi-Ego: Judicial Officers Colloquium Michael Atingi-Ego	+0.05
Mar 7, 2026	Michael Atingi-Ego: Remarks - Town Hall Meeting - Kamuli District Leaders and Community Michael Atingi-Ego	+0.02
Feb 6, 2026	Michael Atingi-Ego: Opening remarks – "Uganda Bankers Association (UBA) – Development Partners and Development Finance Institutions (DFIs) Dialogue" Michael Atingi-Ego	+0.18
Nov 7, 2025	Michael Atingi-Ego: The role of central banking in unlocking pension-led economic growth Michael Atingi-Ego	+0.07
Sep 23, 2025	Michael Atingi-Ego: Shaping Africa's financial future in the age of artificial intelligence Michael Atingi-Ego	+0.05
Sep 16, 2019	Emmanuel Tumusiime-Mutebile: Why deposit insurance Emmanuel Tumusiime-Mutebile	−0.08
Sep 3, 2019	Emmanuel Tumusiime-Mutebile: Building a 21st century Ugandan economy Emmanuel Tumusiime-Mutebile	+0.06
Jul 30, 2019	Emmanuel Tumusiime-Mutebile: Strengthening East African Community policy co-ordination amid global economic uncertainty Emmanuel Tumusiime-Mutebile	−0.21
Jul 16, 2019	Emmanuel Tumusiime-Mutebile: De-risking financing &amp; investment in agriculture to promote decent youth employment and inclusive growth Emmanuel Tumusiime-Mutebile	+0.03
Apr 17, 2019	Louis Kasekende: Overview of the Bank of Uganda's activities and current concerns Louis Kasekende	+0.09
Jan 29, 2019	Emmanuel Tumusiime-Mutebile: Digital transformation in banking, future trend and how to remain buoyant Emmanuel Tumusiime-Mutebile	+0.16
Nov 9, 2018	Emmanuel Tumusiime-Mutebilev: Uganda's implementation of Basel and international accounting standards Emmanuel Tumusiime-Mutebile	+0.07
Nov 8, 2018	Louis Kasekende: Graduate address on competitiveness and challenges for education Louis Kasekende	−0.00
Nov 5, 2018	Emmanuel Tumusiime-Mutebile: Widening financial inclusion to support and spread Uganda's economic growth Emmanuel Tumusiime-Mutebile	−0.17
Oct 1, 2018	Elliot Mwebya: Developing a legal framework for the regulation of payment systems in Uganda Elliot Mwebya	+0.19
Sep 27, 2018	Emmanuel Tumusiime-Mutebile: The importance of central bank independence while ensuring public accountability Emmanuel Tumusiime-Mutebile	+0.05
Aug 6, 2018	Emmanuel Tumusiime-Mutebile: The future of banking in a digital and disruptive environment Emmanuel Tumusiime-Mutebile	−0.29
Jan 17, 2018	Louis Kasekende: The financial services industry and its role in Uganda's economy Louis Kasekende	−0.32
Nov 29, 2017	Louis Kasekende: Governance in the financial sector - is the financial sector over regulated? Louis Kasekende	+0.00
Nov 10, 2017	Louis Kasekende: The importance of mid-sized companies to Uganda's economy Louis Kasekende	+0.15
Nov 9, 2017	Louis Kasekende: Financial reporting - contributing to Uganda's economy and to the growth of a modern business sector Louis Kasekende	−0.14
Nov 3, 2017	Louis Kasekende: Examining developments in Uganda's financial sector Louis Kasekende	+0.23
Jul 19, 2017	Emmanuel Tumusiime-Mutebile: Key challenges for the Ugandan banking industry Emmanuel Tumusiime-Mutebile	−0.23
Jun 22, 2017	Louis Kasekende: "The Church, Business and the Economy" Louis Kasekende	−0.09
Jun 15, 2017	Louis Kasekende: Launch of Uganda's 10-Year Capital Markets Development Master Plan Louis Kasekende	+0.06
May 23, 2017	Louis Kasekende: The link between higher education and development - myth or reality? Louis Kasekende	+0.04
May 12, 2017	Emmanuel Tumusiime-Mutebile: Uganda's economy - its current state and prospects Emmanuel Tumusiime-Mutebile	−0.18
Apr 20, 2017	Louis Kasekende: Continued development of financial literacy in Uganda Louis Kasekende	−0.33
Apr 12, 2017	Louis Kasekende: The media's role in Ugandan society Louis Kasekende	+0.11
Apr 3, 2017	Emmanuel Tumusiime-Mutebile: Reforming the primary dealer system in Uganda Emmanuel Tumusiime-Mutebile	+0.43
Feb 7, 2017	Emmanuel Tumusiime-Mutebile : Step by step - let's solve the finance puzzle to accelerate growth and shared prosperity Emmanuel Tumusiime-Mutebile	−0.06
Dec 2, 2016	Emmanuel Tumusiime-Mutebile: Uganda's current macroeconomic situation and prospects Emmanuel Tumusiime-Mutebile	+0.12
Nov 28, 2016	Emmanuel Tumusiime-Mutebile: The fundamentals of Islamic banking operations Emmanuel Tumusiime-Mutebile	+0.08
Nov 25, 2016	Emmanuel Tumusiime-Mutebile: Governance as a core pillar for economic development Emmanuel Tumusiime-Mutebile	–
Nov 25, 2016	Emmanuel Tumusiime-Mutebile: Year-end reflections on Uganda's banking industry Emmanuel Tumusiime-Mutebile	−0.22
Nov 10, 2016	Louis Kasekende: Enhancing effective supervision of international banking groups in Uganda Louis Kasekende	+0.00
Aug 30, 2016	Louis Kasekende: Agricultural financing in Uganda Louis Kasekende	−0.33
Aug 30, 2016	Louis Kasekende: In pursuit of greater financial literacy and entrepreneurship in Uganda Louis Kasekende	−0.22
Aug 3, 2016	Emmanuel Tumusiime-Mutebile: The national commemoration of the Bank of Uganda's 50th anniversary Emmanuel Tumusiime-Mutebile	+0.25
May 24, 2016	Emmanuel Tumusiime-Mutebile: Urban land management as a potential financing mechanism for urban development Emmanuel Tumusiime-Mutebile	−0.26
May 13, 2016	Emmanuel Tumusiime-Mutebile: Islamic banking in emerging markets - forging Uganda's economic progress Emmanuel Tumusiime-Mutebile	+0.08
May 3, 2016	Louis Kasekende: Key strategic policies needed for Sub-Saharan Africa to sustain growth momentum Louis Kasekende	−0.11
Apr 20, 2016	Louis Kasekende: Shaping the future of smallholder financing in Uganda Louis Kasekende	−0.18
Apr 7, 2016	Emmanuel Tumusiime-Mutebile: Bank of Uganda's 50th Anniversary Emmanuel Tumusiime-Mutebile	+0.07
Feb 22, 2016	Emmanuel Tumusiime-Mutebile: Promoting the Primary Dealer System in Uganda Emmanuel Tumusiime-Mutebile	+0.33
Feb 12, 2016	Emmanuel Tumusiime-Mutebile: Endorsing price stability and financial sector soundness in the Ugandan economy Emmanuel Tumusiime-Mutebile	−0.31
Dec 9, 2015	Louis Kasekende: Improving financial literacy in Uganda Louis Kasekende	−0.22
Dec 1, 2015	Louis Kasekende: Modernising agriculture - a difficult challenge facing Uganda Louis Kasekende	−0.61
Aug 25, 2015	Emmanuel Tumusiime-Mutebile: The implication of the exchange rate depreciation for inflation and monetary policy Emmanuel Tumusiime-Mutebile	+0.09
Aug 13, 2015	Emmanuel Tumusiime-Mutebile: Effective regulation will further enable ICTs to promote financial inclusion Emmanuel Tumusiime-Mutebile	+0.06
Aug 13, 2015	Emmanuel Tumusiime-Mutebile: Emerging issues in the banking industry Emmanuel Tumusiime-Mutebile	−0.06
Feb 26, 2015	Emmanuel Tumusiime-Mutebile: Promoting and strengthening good corporate governance in Uganda Emmanuel Tumusiime-Mutebile	–
Feb 25, 2015	Emmanuel Tumusiime-Mutebile: The impact of oil price volatility and its implications for the economy and for macroeconomic stability Emmanuel Tumusiime-Mutebile	−0.02
Feb 25, 2015	Emmanuel Tumusiime-Mutebile: The development in mobile banking in Uganda Emmanuel Tumusiime-Mutebile	+0.38
Feb 12, 2015	Emmanuel Tumusiime-Mutebile: Mobile money and the economy Emmanuel Tumusiime-Mutebile	−0.13
Jan 29, 2015	Emmanuel Tumusiime-Mutebile: The effect of regulation on financial inclusion Emmanuel Tumusiime-Mutebile	+0.08
Jan 15, 2015	Emmanuel Tumusiime-Mutebile: Overview of Uganda's growth and stability in 2013/2014 Emmanuel Tumusiime-Mutebile	+0.13
Nov 17, 2014	Emmanuel Tumusiime-Mutebile: Laying the foundation for industrialisation to prosper Emmanuel Tumusiime-Mutebile	−0.33
Nov 11, 2014	Emmanuel Tumusiime-Mutebile: The role of the central bank in the post 2015 era to promote local ownership of monetary and fiscal policies and processes Emmanuel Tumusiime-Mutebile	+0.10

Next: Across all central banksHow tone lines up with rate moves at every bank tested, and whether it predicts them.