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

The benchmark interest rate in Kenya was last recorded at 8.50 percent. Interest Rate in Kenya averaged 14.45 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.

      Forecast    
Kenya Interest Rate


Actual Previous Highest Lowest Dates Unit Frequency
8.50 8.50 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 - Kenya Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - Kenya Interest Rate - was last refreshed on Sunday, March 1, 2015.


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.

Excerpts from the statement by the Central Bank of Kenya:

Overall month-on-month inflation declined from 6.02 percent in December 2014 to 5.53 percent in January 2015 mainly reflecting continued moderation in the prices of fuel, but has risen slightly as predicted to 5.61 percent in February 2015. However, the fall in fuel prices was partly offset by a rise in the prices of some food items. The month-on-month non-food-non-fuel inflation declined from 3.65 percent to 3.43 percent during the period, indicating that there were no significant demand-driven inflationary threats to the economy.

The exchange rate of the Kenya Shilling against the US Dollar maintained its stable trend despite volatility in the global foreign exchange markets. The Kenya Shilling has continued to benefit from the strong investor confidence recently boosted by the approval of the International Monetary Fund (IMF) supported precautionary facility. This facility blends the Stand-By Arrangement (SBA) and the Stand-By Credit Facility (SCF) amounting to USD688.3 million and will allow the Government to access resources from the IMF to alleviate balance of payments shocks to the economy. 

The Central Bank Rate (CBR) continued to coordinate movements in the short-term interest rates during the period. In addition, the liquidity management operations by the CBK, through Open Market Operations (OMO), sustained the stability of the interbank market interest rate. 

The Committee concluded that the monetary policy measures, coupled with the favourable impact of lower international oil prices continued to support price stability. However, the divergent monetary policy paths taken by the major advanced economies may cause volatility in the global foreign exchange markets. This could lead to spill-over effects on the domestic foreign exchange market and domestic inflation that should therefore be monitored. In view of these risks, the Committee decided to retain the CBR at 8.50 percent. The MPC will continue to monitor the key macroeconomic aggregates and any emergent risks from the external and domestic economies that may impact on price stability.

Central Bank of Kenya | Carolina Cunha | carolina.cunha@tradingeconomics.com
2/26/2015 2:39:06 PM


Recent Releases

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 Leaves Monetary Policy Unchanged
Central Bank of Kenya decided on November 4th to leave the benchmark interest rate unchanged at 8.5 percent, as current policy stance had moderated inflationary pressures. Published on 2014-11-05


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-07-08 03:00 PM
Interest Rate Decision 
8.5% 8.5% 8.5%
2015-01-14 01:20 PM
Interest Rate Decision 
8.5% 8.5% 8.5% 8.5%
2015-02-26 01:15 PM
Interest Rate Decision 
8.5% 8.5% 8.5%


Kenya Money Last Previous Highest Lowest Unit
Interest Rate 8.50 8.50 84.67 0.83 percent [+]
Money Supply M1 936.40 937.20 937.20 71.50 KES Billion [+]
Money Supply M2 1981.86 1950.05 1981.86 231.09 KES Billion [+]
Money Supply M3 2329979.00 2291820.30 2329979.00 244755.00 KES Billion [+]
Foreign Exchange Reserves 8964.19 9399.90 10398.72 853.00 USD Million [+]
Central Bank Balance Sheet 746235.00 786030.00 828282.00 93720.00 KES Million [+]
Interbank Rate 6.90 6.90 68.30 0.40 percent [+]
Loans To Private Sector 1515613.00 1493754.00 1515613.00 226846.00 KES Million [+]


Interest Rate Reference Previous Highest Lowest Unit
Australia 2.25 Feb/15 2.50 17.50 2.50 percent [+]
Brazil 12.25 Jan/15 11.75 45.00 7.25 percent [+]
Canada 0.75 Jan/15 1.00 16.00 0.25 percent [+]
China 5.35 Mar/15 5.60 10.98 5.31 percent [+]
Euro Area 0.05 Jan/15 0.05 4.75 0.05 percent [+]
France 0.05 Jan/15 0.05 4.75 0.05 percent [+]
Germany 0.05 Jan/15 0.05 4.75 0.05 percent [+]
India 7.75 Feb/15 7.75 14.50 4.25 percent [+]
Indonesia 7.50 Feb/15 7.75 12.75 5.75 percent [+]
Italy 0.05 Jan/15 0.05 4.75 0.05 percent [+]
Japan 0.00 Feb/15 0.00 9.00 0.00 percent [+]
Mexico 3.00 Jan/15 3.00 9.25 3.00 percent [+]
Netherlands 0.05 Jan/15 0.05 4.75 0.05 percent [+]
Russia 15.00 Jan/15 17.00 17.00 5.00 percent [+]
South Korea 2.00 Feb/15 2.00 5.25 2.00 percent [+]
Spain 0.05 Jan/15 0.05 4.75 0.05 percent [+]
Switzerland -0.75 Jan/15 -0.25 3.50 -0.75 percent [+]
Turkey 7.50 Feb/15 7.75 500.00 4.50 percent [+]
United Kingdom 0.50 Feb/15 0.50 17.00 0.50 percent [+]
United States 0.25 Jan/15 0.25 20.00 0.25 percent [+]