Kenya Interest Rate  1991-2016 | Data | Chart | Calendar | Forecast | News

The Central Bank of Kenya lowered its benchmark interest rate by 50bps to 10 percent at its September 2016 meeting, surprising markets who expected no changes. It was the second rate cut so far this year, amid a decline in private sector credit growth while the inflation remained within the government target range. The inflation was recorded at 6.3 percent in August, slowing form 6.4 percent in the previous month. Interest Rate in Kenya averaged 14.21 percent from 1991 until 2016, 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
10.00 10.50 84.67 0.83 1991 - 2016 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. Kenya Interest Rate - actual data, historical chart and calendar of releases - was last updated on September of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-05-23 01:40 PM Interest Rate Decision 10.5% 11.5% 11.5%
2016-07-25 01:45 PM Interest Rate Decision 10.5% 10.5% 10.5% 10.5%
2016-09-20 02:30 PM Interest Rate Decision 10% 10.5% 10.5% 10.5%

Kenya Cuts Key Rate to 10%


The Central Bank of Kenya lowered its benchmark interest rate by 50bps to 10 percent at its September 2016 meeting, surprising markets who expected no changes. It was the second rate cut so far this year, amid a decline in private sector credit growth while the inflation remained within the government target range.

Policymakers noted the inflation rate slowed to 6.3 percent in August of 2016 from 6.4 percent in July, remaining within the government’s target range. Also, the foreign exchange market remained stable, reflecting a narrower current account deficit due to higher tea and horticulture exports and lower oil imports. The central bank said the inflation is expected to decline in the short-term on moderate demand pressures.

Policymakers also showed concerns about a slowdown in private sector credit, which pose risks to growth. Concerns come a week after commercial banks' lending rates were capped by law. The government ordered commercial banks to limit lending rates to 4 percentage points above the key rate.

Joana Taborda | joana.taborda@tradingeconomics.com
9/20/2016 5:37:45 PM

Kenya Money Last Previous Highest Lowest Unit
Interest Rate 10.00 10.50 84.67 0.83 percent [+]
Interbank Rate 5.88 4.56 68.30 0.40 percent [+]
Money Supply M1 1107.64 1131.34 1131.34 71.50 KES Billion [+]
Money Supply M2 2296.86 2331.33 2331.33 231.09 KES Billion [+]
Money Supply M3 2712966.34 2754142.00 2754142.00 244755.00 KES Million [+]
Foreign Exchange Reserves 9809.09 9501.23 10398.72 853.00 USD Million [+]
Deposit Interest Rate 9.20 8.37 18.40 2.43 percent [+]
Loans To Private Sector 2274370.00 2283969.00 2283969.00 166281.00 KES Million [+]
Central Bank Balance Sheet 885202.00 835460.00 885202.00 93720.00 KES Million [+]




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