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 August 5th, saying that the measures taken in the previous meetings were yet to be fully transmitted to the economy. 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 Sunday, August 30, 2015.

Calendar GMT Reference Actual Previous Consensus Forecast (i)
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 03:30 PM 11.5% 11.5% 12% 12%
2015-09-15 03:00 PM 11.5%

Kenya Leaves Monetary Policy Unchanged

Central Bank of Kenya left its benchmark interest rate on hold at 11.5 percent on August 5th, saying that the measures taken in the previous meetings were yet to be fully transmitted to the economy.

Excerpts from the statement by the Central Bank of Kenya:

Overall inflation decreased in July 2015, and remained within the Government’s target range of 2.5 percent on either side of the 5 percent target. Month-on-month inflation eased to 6.6 percent in July 2015 from 7.0 percent in June 2015, mainly reflecting lower food prices which offset the increase in fuel prices during the period and pass-through effects of the depreciation of the Kenya Shilling. 

The foreign exchange market was volatile in early July 2015, but has stabilised reflecting in part the impact of monetary policy measures. In particular, Open Market Operations and the sale of foreign exchange by the Central Bank of Kenya (CBK) have stemmed the volatility and resulted in tight liquidity conditions. The CBK’s foreign exchange reserves stood at USD 6,413 million at the end of July 2015. This level of reserves together with the precautionary facility with the International Monetary Fund provides an adequate buffer against short-term shocks. Consistent with the policy stance adopted by the MPC in its July 2015 meeting, overall liquidity conditions remained tight, with the interbank interest rate rising above the Central Bank Rate (CBR). 

The latest data indicates that the banking sector is resilient, though credit and liquidity risks remain. 

The Committee concluded that the measures taken in the previous meetings were yet to be fully transmitted to the economy. In particular, the impact of the increase in the Kenya Banks’ Reference Rate (KBRR) takes effect from August 2015. The MPC 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 |
8/5/2015 3:46:37 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 1000.19 991.20 1000.19 71.50 KES Billion [+]
Money Supply M2 2138.99 2099.03 2138.99 231.09 KES Billion [+]
Money Supply M3 2552449.00 2501589.00 2552449.00 244755.00 KES Million [+]
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 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 Aug/15 2.00 17.50 2.00 percent [+]
Brazil 14.25 Jul/15 13.75 45.00 7.25 percent [+]
Canada 0.50 Jul/15 0.75 16.00 0.25 percent [+]
China 4.60 Aug/15 4.85 10.98 4.60 percent [+]
Euro Area 0.05 Jul/15 0.05 4.75 0.05 percent [+]
India 7.25 Aug/15 7.25 14.50 4.25 percent [+]
Indonesia 7.50 Aug/15 7.50 12.75 5.75 percent [+]
Japan 0.00 Aug/15 0.00 9.00 0.00 percent [+]
Mexico 3.00 Jul/15 3.00 9.25 3.00 percent [+]
Russia 11.00 Jul/15 11.50 17.00 5.00 percent [+]
South Korea 1.50 Aug/15 1.50 5.25 1.50 percent [+]
Switzerland -0.75 Jun/15 -0.75 3.50 -0.75 percent [+]
Turkey 7.50 Aug/15 7.50 500.00 4.50 percent [+]
United Kingdom 0.50 Aug/15 0.50 17.00 0.50 percent [+]
United States 0.25 Jul/15 0.25 20.00 0.25 percent [+]