Kenya Interest Rate 1991-2015 | Data | Chart | Calendar | Forecast | News

The benchmark interest rate in Kenya was last recorded at 11.50 percent. Interest Rate in Kenya averaged 14.36 percent from 1991 until 2015, reaching an all time high of 84.67 percent in July of 1993 and a record low of 0.83 percent in September of 2003. Interest Rate in Kenya is reported by the Central Bank of Kenya.

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Kenya Interest Rate
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Actual Previous Highest Lowest Dates Unit Frequency
11.50 10.00 84.67 0.83 1991 - 2015 percent Daily
In Kenya, interest rates decisions are taken by The Monetary Policy Committee (MPC) of the The Central Bank of Kenya. The official interest rate since August 2005 is the Central Bank Rate (CBR), which replaced the 91-day Treasury Bill (TB) rate. This page provides the latest reported value for - Kenya Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Content for - Kenya Interest Rate - was last refreshed on Wednesday, July 29, 2015.

Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-02-26 01:15 PM 8.5% 8.5% 8.5%
2015-06-09 01:40 PM 10% 8.5% 9.5% 8.5%
2015-07-07 03:45 PM 11.5% 10% 10% 10%
2015-08-05 01:45 PM 11.5%


Kenya Raises Key Rate to 11.5%


The Central Bank of Kenya increased its benchmark interest rate for the second straight meeting by 150bps to 11.5 percent on July 7th 2015, saying pressures on the exchange rate increased risks to the inflation outlook. Policymakers also decided to introduce a 3-day repo to control market liquidity.

Excerpts from the statement by the Central Bank of Kenya:

The Committee noted elevated risks to the inflation outlook mainly attributed to pressures on the exchange rate over the last few months. The Market Perceptions Survey of June 2015 showed that private sector firms expected inflation to rise mainly on account of pass-through effects of past exchange rate movements, and increases in fuel prices. However, the Survey showed optimism for an improved business environment by private sector firms in the remainder of 2015 related to continued investment in infrastructure, credit growth to key sectors, and improved confidence in the economy.     

In view of these developments, the emerging risks, and the consequent need to anchor inflationary expectations, the MPC decided to raise the Central Bank Rate (CBR) from 10.00 percent to 11.50 percent. Furthermore, the MPC decided to augment its instruments for liquidity management by introducing a 3-day Repo. The Committee noted the need to closely monitor liquidity conditions in the market. The MPC will continue to monitor external and domestic developments and their implications on the risks to the overall price stability. In particular, the Committee noted the need to closely monitor liquidity conditions in the market. 

In view of the new CBR, the CBK has revised the KBRR consistent with its commitment in January 2015 from 8.54 percent to 9.87 percent. This level of the KBRR will be effective from 7th July, 2015.

Central Bank of Kenya | Joana Taborda | joana.taborda@tradingeconomics.com
7/7/2015 4:22:24 PM


Recent Releases

Kenya Hikes Key Rate to 10%
Central Bank of Kenya raised its key interest rate by 150bps to 10.0 percent on June 9th, the highest level since December 2012. Although inflation has dropped in May due to seasonal factors, policymakers voiced concern about the growing demand pressure and the persistent volatility in the global foreign exchange markets.
Published on 2015-06-09

Kenya Holds Rates
Central Bank of Kenya left its benchmark interest rate unchanged at 8.5 percent in May. Although there were no demand driven threats to inflation, policymakers said that developments in the foreign exchange markets had triggered inflationary expectations and threatened the price stability objective.
Published on 2015-05-06

Kenya Leaves Monetary Policy Unchanged
Central Bank of Kenya decided to leave the benchmark interest rate unchanged at 8.5 percent at its February 26th 2015 meeting, as policymakers consider current policy stances continues to deliver the desired price stability. The rate has remained unchanged since May 2013.
Published on 2015-02-26

Kenya Leaves Key Rate on Hold at 8.5%
Central Bank of Kenya decided to leave the benchmark interest rate unchanged at 8.5 percent at its January 14th 2015 meeting, saying this would ensure that inflation continues to decline towards the 5 percent. Policymakers also decided to cut the rate banks use as a base to price loans, the Kenya Banks’ Reference Rate, to 8.54 percent from 9.13 percent.
Published on 2015-01-14


Kenya Money Last Previous Highest Lowest Unit
Interest Rate 11.50 10.00 84.67 0.83 percent [+]
Money Supply M1 991.20 999.70 999.70 71.50 KES Billion [+]
Money Supply M2 2099.03 2087.21 2099.03 231.09 KES Billion [+]
Money Supply M3 2501589.00 2464482.00 2501589.00 244755.00 KES Billion [+]
Foreign Exchange Reserves 9805.54 9834.29 10398.72 853.00 USD Million [+]
Central Bank Balance Sheet 790079.95 800070.24 828282.00 93720.00 KES Million [+]
Interbank Rate 11.80 11.20 68.30 0.40 percent [+]
Loans To Private Sector 1950600.00 1935079.00 1950600.00 166281.00 KES Million [+]


Interest Rate Reference Previous Highest Lowest Unit
Australia 2.00 Jul/15 2.00 17.50 2.00 percent [+]
Brazil 13.75 Jun/15 13.25 45.00 7.25 percent [+]
Canada 0.50 Jul/15 0.75 16.00 0.25 percent [+]
China 4.85 Jun/15 5.10 10.98 4.85 percent [+]
Euro Area 0.05 Jul/15 0.05 4.75 0.05 percent [+]
India 7.25 Jun/15 7.50 14.50 4.25 percent [+]
Indonesia 7.50 Jul/15 7.50 12.75 5.75 percent [+]
Japan 0.00 Jul/15 0.00 9.00 0.00 percent [+]
Mexico 3.00 Jun/15 3.00 9.25 3.00 percent [+]
Russia 11.50 Jun/15 12.50 17.00 5.00 percent [+]
South Korea 1.50 Jul/15 1.50 5.25 1.50 percent [+]
Switzerland -0.75 Jun/15 -0.75 3.50 -0.75 percent [+]
Turkey 7.50 Jul/15 7.50 500.00 4.50 percent [+]
United Kingdom 0.50 Jul/15 0.50 17.00 0.50 percent [+]
United States 0.25 Jun/15 0.25 20.00 0.25 percent [+]