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

Central Bank of Kenya left its benchmark interest rate on hold at 11.5 percent on September 22nd, in line with the market's expectations, due to appropriate supporting measures that had helped lower inflation towards its target of 5 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.

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 Friday, October 9, 2015.

Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-07-07 03:45 PM 11.5% 10% 10% 10%
2015-08-05 03:30 PM 11.5% 11.5% 12% 12%
2015-09-22 03:00 PM 11.5% 11.5% 11.5% 11.5%
2015-10-20 03:30 PM 11.5% 11.5%

Kenya Holds Main Interest Rate at 11.5%

Central Bank of Kenya left its benchmark interest rate on hold at 11.5 percent on September 22nd, as the measures taken in the previous meetings had continued to bring monthly inflation nearer to the 5 percent target and stabilise the foreign exchange market.

Excerpts from the statement by the Central Bank of Kenya:

Overall month-on-month inflation decreased to 5.8 percent in August 2015, from 6.6 percent in July, moving closer to the 5 percent target. Month-on-month non-food non-fuel inflation reversed its upward trend since April, falling to 4.5 percent inAugust from 4.7 percent in July. The decrease in inflation was due to lower food prices and moderating demand pressures, partially offsetting the pass-through effects of exchange rate movements.

The foreign exchange market was volatile in August and early September largely reflecting international developments, in particular the impact of the devaluation of the Chinese Yuan and continued strengthening of the U.S. dollar against most currencies. However, the tight liquidity conditions and direct interventions by the Central Bank of Kenya (CBK) helped stabilise the market. The current account deficit narrowed slightly in July 2015, due to a slowdown in imports and improved exports. In addition, diaspora remittances remain strong.

The banking sector is resilient although liquidity and credit risks remain. The CBK is closely monitoring the sector in view of the risks posed by volatility in the global markets.

The CBK’s Market Perceptions Survey of September 2015 showed that private sector firms expect stronger growth in 2015 compared to 2014, supported mainly by public investment in infrastructure and improved confidence in the economy. In addition, the Survey showed that inflation was expected to be stable in the remainder of 2015 supported by lower food and oil prices. However, the forecasted El Niño rains could disrupt food supply chains and exert pressure on food prices in the short term.

The Committee observed that the measures taken in the previous meetings had continued to bring inflation nearer to the 5 percent target. However, the persistent turbulence in the global financial markets remain a risk to the inflation outlook, and its impact on the exchange rate should be monitored. The MPC concluded that the current monetary policy stance and supporting measures remain appropriate. The Committee therefore decided to retain the CBR at 11.50 percent in order to anchor inflation expectations. The CBK stands ready to use the instruments at its disposal to maintain overall price stability.

Central Bank of Kenya | Yekaterina |
9/22/2015 4:06:37 PM

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Kenya Money Last Previous Highest Lowest Unit
Interest Rate 11.50 10.00 84.67 0.83 percent [+]
Money Supply M1 992.90 1001.00 1001.00 71.50 KES Billion [+]
Money Supply M2 2119.10 2139.53 2139.53 231.09 KES Billion [+]
Money Supply M3 2525805.00 2552995.00 2552995.00 244755.00 KES Million [+]
Foreign Exchange Reserves 9798.73 9805.54 10398.72 853.00 USD Million [+]
Central Bank Balance Sheet 790079.95 800070.24 828282.00 93720.00 KES Million [+]
Interbank Rate 13.50 11.80 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 Oct/15 2.00 17.50 2.00 percent [+]
Brazil 14.25 Sep/15 14.25 45.00 7.25 percent [+]
Canada 0.50 Sep/15 0.50 16.00 0.25 percent [+]
China 4.60 Sep/15 4.60 10.98 4.60 percent [+]
Euro Area 0.05 Sep/15 0.05 4.75 0.05 percent [+]
India 6.75 Sep/15 7.25 14.50 4.25 percent [+]
Indonesia 7.50 Sep/15 7.50 12.75 5.75 percent [+]
Japan 0.00 Oct/15 0.00 9.00 0.00 percent [+]
Mexico 3.00 Sep/15 3.00 9.25 3.00 percent [+]
Russia 11.00 Sep/15 11.00 17.00 5.00 percent [+]
South Korea 1.50 Sep/15 1.50 5.25 1.50 percent [+]
Switzerland -0.75 Sep/15 -0.75 3.50 -0.75 percent [+]
Turkey 7.50 Sep/15 7.50 500.00 4.50 percent [+]
United Kingdom 0.50 Oct/15 0.50 17.00 0.50 percent [+]
United States 0.25 Sep/15 0.25 20.00 0.25 percent [+]