Kenya Interest Rate  1991-2017 | Data | Chart | Calendar | Forecast | News

The central bank of Kenya left its benchmark interest rate on hold at 10 percent at its March 27th 2017 meeting, in line with market expectations. Policymakers expect the inflation rate to remain above the government's target band of 2.5-7.5 percent due to food prices. Yet, consumer prices increased 9.04 percent year-on-year in February, the most since June of 2012. Interest Rate in Kenya averaged 14.13 percent from 1991 until 2017, 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.

Kenya Interest Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-11-28 02:30 PM Interest Rate Decision 10% 10% 10% 10%
2017-01-30 02:30 PM Interest Rate Decision 10% 10% 10% 10%
2017-03-27 03:30 PM Interest Rate Decision 10% 10% 10% 10%
2017-05-23 01:30 PM Interest Rate Decision 10% 10%
2017-07-25 01:30 PM Interest Rate Decision 11%
2017-09-20 01:30 PM Interest Rate Decision 11%




Kenya Leaves Monetary Policy Unchanged


The central bank of Kenya left its benchmark interest rate on hold at 10 percent at its March 27th 2017 meeting, in line with market expectations. Policymakers expect the inflation rate to remain above the government's target band of 2.5-7.5 percent due to food prices. Yet, consumer prices increased 9.04 percent year-on-year in February, the most since June of 2012.

Excerpts from the statement by the Central Bank of Kenya:

Overall inflation rose to 9.0 percent in February from 7.0 percent in January 2017, almost entirely due to increases in food prices. Food prices are expected to remain elevated in March and April due to the dry weather conditions, but ease with the long rains.

The foreign exchange market has remained stable. This has been supported by a narrower current account deficit mainly due to lower imports of petroleum products, machinery and transport equipment.

The banking sector remains resilient. However, the ratio of gross non-performing loans to gross loans increased to 9.7 percent in February 2017, largely due to tighter credit standards and slower credit growth.

The MPC Market Perception Survey conducted in March 2017 showed that private sector respondents expect a decline of growth in 2017, on account of the prevailing drought conditions and slowdown in private sector credit growth. However, the respondents expect the ongoing public investment in infrastructure to continue to be supportive growth.

The Committee concluded that overall inflation is expected to remain outside the Government target range in the near term due to the elevated food prices, even as demand pressures remain subdued. The Committee remains concerned about the prevailing uncertainties, including the impact of the interest rate caps on the effectiveness of monetary policy. 

Central Bank of Kenya | Deborah Neves | deborah.neves@tradingeconomics.com
3/27/2017 4:44:13 PM



Kenya Money Last Previous Highest Lowest Unit
Interest Rate 10.00 10.00 84.67 0.83 percent [+]
Interbank Rate 7.79 6.12 68.30 0.40 percent [+]
Money Supply M1 1308.93 1285.80 1308.93 71.50 KES Billion [+]
Money Supply M2 2342.62 2330.56 2342.62 231.09 KES Billion [+]
Money Supply M3 2753528.40 2767141.17 2767141.17 244755.00 KES Million [+]
Foreign Exchange Reserves 10326.70 10441.50 10602.20 853.00 USD Million [+]
Deposit Interest Rate 8.70 9.20 18.40 2.43 percent [+]
Loans To Private Sector 2322456.00 2297659.00 2322456.00 166281.00 KES Million [+]
Central Bank Balance Sheet 944875.00 920434.00 944875.00 93720.00 KES Million [+]


Kenya Interest Rate Notes

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 April of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
10.00 10.00 84.67 0.83 1991 - 2017 percent Daily



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