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.

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Kenya Interest Rate
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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 Saturday, May 23, 2015.

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


Kenya Holds Rates


Central Bank of Kenya left its benchmark interest rate unchanged at 8.5 percent in May. Although there were no demand driven threats to inflation, policymakers said that developments in the foreign exchange markets had triggered inflationary expectations and threatened the price stability objective.

Excerpts from the statement by the Central Bank of Kenya:

The Committee noted that despite upward pressure from food prices attributed mainly to delayed rainfall, overall inflation remained within the Government target range in March and April 2015.

The Committee concluded that there were no demand driven threats to inflation.  However, the recent developments in the global and domestic foreign exchange markets have triggered inflationary expectations and present a threat to the price stability objective of the CBK. The MPC will therefore pursue the current tightening bias stance in the money market through the CBK monetary policy operations in order to anchor inflationary expectations. Consequently, the MPC decided to retain the CBR at 8.50 percent and will continue to monitor any emergent risks from the external and domestic economies that may impact on price stability.

Central Bank of Kenya | Joana Taborda | joana.taborda@tradingeconomics.com
5/6/2015 3:26:37 PM


Recent Releases

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. Published on 2015-02-26

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 Money Last Previous Highest Lowest Unit
Interest Rate 8.50 8.50 84.67 0.83 percent [+]
Money Supply M1 971.30 946.50 971.30 71.50 KES Billion [+]
Money Supply M2 2046.77 2031.68 2063.46 231.09 KES Billion [+]
Money Supply M3 2398762.00 2407825.00 2439600.00 244755.00 KES Billion [+]
Foreign Exchange Reserves 9619.76 9737.55 10398.72 853.00 USD Million [+]
Central Bank Balance Sheet 809974.00 737409.00 828282.00 93720.00 KES Million [+]
Interbank Rate 8.80 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 2.00 May/15 2.25 17.50 2.25 percent [+]
Brazil 13.25 Apr/15 12.75 45.00 7.25 percent [+]
Canada 0.75 Apr/15 0.75 16.00 0.25 percent [+]
China 5.10 May/15 5.35 10.98 5.31 percent [+]
Euro Area 0.05 Apr/15 0.05 4.75 0.05 percent [+]
France 0.05 Apr/15 0.05 4.75 0.05 percent [+]
Germany 0.05 Apr/15 0.05 4.75 0.05 percent [+]
India 7.50 Apr/15 7.50 14.50 4.25 percent [+]
Indonesia 7.50 May/15 7.50 12.75 5.75 percent [+]
Italy 0.05 Apr/15 0.05 4.75 0.05 percent [+]
Japan 0.00 May/15 0.00 9.00 0.00 percent [+]
Mexico 3.00 Apr/15 3.00 9.25 3.00 percent [+]
Netherlands 0.05 Apr/15 0.05 4.75 0.05 percent [+]
Russia 12.50 Apr/15 14.00 17.00 5.00 percent [+]
South Korea 1.75 May/15 1.75 5.25 1.75 percent [+]
Spain 0.05 Apr/15 0.05 4.75 0.05 percent [+]
Switzerland -0.75 Apr/15 -0.75 3.50 -0.75 percent [+]
Turkey 7.50 May/15 7.50 500.00 4.50 percent [+]
United Kingdom 0.50 May/15 0.50 17.00 0.50 percent [+]
United States 0.25 Apr/15 0.25 20.00 0.25 percent [+]