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

Central Bank of Kenya left its benchmark interest rate unchanged at 11.5 percent on its January 20th meeting.The Committee concluded that the current inflation pressures are temporary and the monetary policy measures currently in place are containing demand pressures in the economy. The decision came in line with market expectations. Interest Rate in Kenya averaged 14.31 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
11.50 11.50 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 February of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-09-22 03:00 PM Interest Rate Decision 11.5% 11.5% 11.5% 11.5%
2015-11-17 02:00 PM Interest Rate Decision 11.5% 11.5% 11.5% 11.5%
2016-01-20 02:45 PM Interest Rate Decision 11.5% 11.5% 11.5% 11.5%

Kenya Holds Key Rate at 11.5%


Central Bank of Kenya left its benchmark interest rate unchanged at 11.5 percent on its January 20th meeting.The Committee concluded that the current inflation pressures are temporary and the monetary policy measures currently in place are containing demand pressures in the economy. The decision came in line with market expectations.

Excerpts from the statement by the Central Bank of Kenya:

Consumer prices rose by 8.0 percent year-on-year in December 2015, following a 7.3 percent growth in November, mainly driven by increase in food prices. Inflation stayed above the 7.5 percent upper bound of the Government’s target range. Also, the non-food-non-fuel (NFNF) inflation increased to 5.6 percent in December from 4.8 percent in November as a result of the new Excise Taxes on alcoholic beverages and tobacco products.

The foreign exchange market has remained stable since November 2015, despite the rise in U.S. interest rates, impact of the slowdown in China, and volatility in other global financial markets. Stability in the foreign exchange market continues to be supported by a narrowing current account deficit largely due to a lower import bill for petroleum products, recovery in tourism, tea and horticulture exports, and diaspora remittances. CBK’s foreign exchange reserves which currently stand at USD 7,023.7 million (equivalent to 4.5 months of import cover), together with the Precautionary Arrangements with IMF, continue to provide an adequate buffer against short-term shocks.

The Government’s borrowing plan in the first half of the Fiscal Year 2015/16 ensured that the build-up in domestic debt was consistent with the thresholds set in the Medium-Term Debt Management Strategy. The Government continues to review its borrowing plan in line with market conditions and prudent budget management.

The economy remained strong in the third quarter of 2015, posting a growth rate of 5.8 percent compared to 5.2 percent in a similar period of 2014. Significantly, the CBK Market Perception Survey of January 2016, showed increased optimism for improved business conditions and stronger growth in 2016, largely due to strengthened macroeconomic environment, continued public investment in infrastructure, lower oil prices, improving tourism performance, and a higher country profile.

In view of the developments noted above, the Committee concluded that the current inflation pressures are temporary, and that the monetary policy measures currently in place are containing any demand pressures in the economy. The MPC therefore decided to retain the CBR at 11.50 percent in order to continue to anchor inflation expectations. The CBK will continue to use the instruments at its disposal to maintain overall price stability while ensuring stability in the financial sector.

Central Bank of Kenya | Yekaterina Guchshina| yekaterina@tradingeconomics.com
1/20/2016 3:34:51 PM

Kenya Money Last Previous Highest Lowest Unit
Interest Rate 11.50 11.50 84.67 0.83 percent [+]
Interbank Rate 14.80 19.90 68.30 0.40 percent [+]
Money Supply M1 1015.70 1014.50 1016.70 71.50 KES Billion [+]
Money Supply M2 2226.81 2180.22 2226.81 231.09 KES Billion [+]
Money Supply M3 2650182.00 2593050.00 2650182.00 244755.00 KES Million [+]
Foreign Exchange Reserves 9323.97 8899.41 10398.72 853.00 USD Million [+]
Deposit Interest Rate 8.37 8.64 18.40 2.43 percent [+]
Loans To Private Sector 2246112.00 2228937.00 2246112.00 166281.00 KES Million [+]
Central Bank Balance Sheet 775052.00 764492.00 828282.00 93720.00 KES Million [+]




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