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

The Central Bank of Kenya left its benchmark interest rate on hold at 10.5 percent at its July 2016 meeting, saying a rise in inflation is expected following a hike in fuel taxes. The decision came in line with market expectations and follows a 100bps cut in May. Interest Rate in Kenya averaged 14.24 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
Receive the next reported value for Kenya Interest Rate in you Inbox



We will not not share your email with third parties and you can unsubscribe at any time.
Please Paste this Code in your Website

Actual Previous Highest Lowest Dates Unit Frequency
10.50 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 August of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-03-21 02:10 PM Interest Rate Decision 11.5% 11.5% 11.5% 11.5%
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 01:45 PM Interest Rate Decision 10.5%

Kenya Keeps Key Rate Unchanged at 10.5%


The Central Bank of Kenya left its benchmark interest rate on hold at 10.5 percent at its July 2016 meeting, saying a rise in inflation is expected following a hike in fuel taxes. The decision came in line with market expectations and follows a 100bps cut in May.

Excerpts from the statement by the Central Bank of Kenya:

Overall inflation increased to 5.8 percent in June 2016, from 5.0 percent in May, but remained within the Government target range. The CPI category food and non-alcoholic beverages accounted for 3.8 percentage points of the monthon-month inflation in June from 2.8 percentage points in May. This increase waslargely due to prices of some food items such as tomatoes, Irish potatoes, and cabbages. On the other hand, month-on-month non-food-non-fuel (NFNF) inflation declined to 5.0 percent in June from 5.4 percent in May. The 3-month annualised NFNF inflation fell to 3.3 percent in June from 5.2 percent in May, indicating that there were no significant demand pressures in the economy.

The foreign exchange market has remained stable, reflecting a narrower current account deficit due to a lower import bill, improved tea and horticulture exports, and stronger diaspora remittances. The stability was also supported by the CBK’s closer monitoring of the market before and after the U.K. vote to leave the European Union (Brexit).

The CBK’s foreign exchange reserves currently stand at USD7,794.1 million (5.1 months of import cover) up from USD7,682.0 million at the end of May 2016. These reserves, together with the Precautionary Arrangements with the International Monetary Fund (IMF) continue to provide adequate buffers against short-term shocks.

The banking sector continues to stabilise with improving liquidity conditions, and stable non-performing loans in May and June. The ratio of gross non-performing loans to gross loans  fell marginally from 8.5 percent in May to 8.4 percent in June 2016. The CBK will continue to closely monitor credit and liquidity risks.

The performance of the economy remains strong, posting a growth of 5.9 percent in the first quarter of 2016, compared with 5.0 percent in a similar period of 2015. Positive growth rates were registered across all sectors of the economy. Improved security and confidence in the economy continued to support the recovery in tourism. 

The MPC Market Perception Survey conducted in July 2016, shows the private sector remains optimistic for a higher growth in 2016 supported by macroeconomic stability, infrastructure investment, strong agriculture performance, and tourism recovery.

The Committee also reviewed the Kenya Banks’ Reference Rate (KBRR). In line with the framework, the CBK has revised the KBRR to 8.90 percent from 9.87 percent, effective from July 25, 2016. 

Central Bank of Kenya| Mojdeh Kazemi | mojdeh@tradingeconomics.com
7/25/2016 3:44:31 PM

Kenya Money Last Previous Highest Lowest Unit
Interest Rate 10.50 10.50 84.67 0.83 percent [+]
Interbank Rate 4.56 3.82 68.30 0.40 percent [+]
Money Supply M1 1131.34 1113.81 1131.34 71.50 KES Billion [+]
Money Supply M2 2331.33 2298.47 2331.33 231.09 KES Billion [+]
Money Supply M3 2754142.00 2708753.00 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 [+]




Last
Argentina 28.75 Aug/16
Malawi 27.00 Jul/16
Ghana 26.00 Jul/16
Gambia 23.00 Jun/16
Venezuela 21.54 Jul/16
Haiti 20.00 Jul/16
Iran 20.00 Dec/16
Belarus 18.00 Aug/16
Mozambique 17.25 Jul/16
Angola 16.00 Aug/16
Ukraine 15.50 Jul/16
Zambia 15.50 Jul/16
Afghanistan 15.00 Jul/16
Mongolia 15.00 Aug/16
Yemen 15.00 Jul/16
Brazil 14.25 Jul/16
Nigeria 14.00 Jul/16
Uganda 14.00 Aug/16
Liberia 13.55 Apr/16
Kazakhstan 13.00 Aug/16
Djibouti 12.70 Dec/14
Guinea 12.50 Jun/16
Suriname 12.50 Dec/15
Sudan 12.40 Dec/15
Seychelles 12.28 Jun/16
Tanzania 12.00 Feb/16
Egypt 11.75 Jul/16
Zimbabwe 11.44 Mar/16
Tajikistan 11.00 Jul/16
Kenya 10.50 Jul/16
Russia 10.50 Jul/16
Lebanon 10.00 Jul/16
Moldova 10.00 Aug/16
Myanmar 10.00 Jul/16
Sao Tome and Principe 10.00 Jul/16
Sierra Leone 9.50 Jul/16
Uruguay 9.25 Jul/16
Burundi 9.21 Mar/16
Mauritania 9.00 Jul/16
Uzbekistan 9.00 Jul/16
Ecuador 8.67 Jul/16
Madagascar 8.30 Jul/16
Colombia 7.75 Jul/16
Cape Verde 7.50 May/16
Turkey 7.50 Aug/16
Armenia 7.25 Aug/16
Azerbaijan 7.00 Jul/16
Maldives 7.00 Jul/16
Namibia 7.00 Aug/16
Nepal 7.00 Jul/16
South Africa 7.00 Jul/16
Sri Lanka 7.00 Aug/16
Swaziland 7.00 Jul/16
Lesotho 6.86 Mar/16
Bangladesh 6.75 Jul/16
Georgia 6.75 Jul/16
India 6.50 Aug/16
Rwanda 6.50 Jul/16
Vietnam 6.50 Jul/16
Papua New Guinea 6.25 Jul/16
Bhutan 6.00 Jul/16
Iraq 6.00 Jun/16
Kyrgyzstan 6.00 Aug/16
Pakistan 5.75 Jul/16
Botswana 5.50 Aug/16
Brunei 5.50 Jul/16
Honduras 5.50 Aug/16
Paraguay 5.50 Aug/16
Iceland 5.25 Aug/16
Indonesia 5.25 Aug/16
Dominican Republic 5.00 Jul/16
Ethiopia 5.00 Jul/16
Guyana 5.00 Jul/16
Jamaica 5.00 Jul/16
Bosnia and Herzegovina 4.99 Jun/16
Trinidad and Tobago 4.75 Jul/16
Bahamas 4.50 Jun/16
Laos 4.50 Jul/16
Qatar 4.50 Jul/16
China 4.35 Jul/16
El Salvador 4.33 Apr/16
Mexico 4.25 Aug/16
Peru 4.25 Aug/16
Tunisia 4.25 Jul/16
Algeria 4.00 Jun/16
Macedonia 4.00 Jun/16
Mauritius 4.00 Jul/16
Serbia 4.00 Aug/16
Jordan 3.75 Jul/16
Benin 3.50 Jul/16
Burkina Faso 3.50 Jul/16
Chile 3.50 Aug/16
Guinea Bissau 3.50 Jul/16
Ivory Coast 3.50 Jul/16
Mali 3.50 Jul/16
Niger 3.50 Jul/16
Senegal 3.50 Jul/16
Togo 3.50 Jul/16
Barbados 3.41 Jul/16
Guatemala 3.00 Jul/16
Libya 3.00 Jul/16
Malaysia 3.00 Jul/16
Philippines 3.00 Aug/16
Belize 2.50 Jun/16
Croatia 2.50 Jun/16
Cameroon 2.45 Jul/16
Central African Republic 2.45 Jul/16
Chad 2.45 Jul/16
Equatorial Guinea 2.45 Jul/16
Gabon 2.45 Jul/16
Republic of the Congo 2.45 Jul/16
Cuba 2.25 Jul/16
Kuwait 2.25 Jul/16
Morocco 2.25 Jul/16
Bolivia 2.01 Jul/16
Congo 2.00 Jul/16
New Zealand 2.00 Aug/16
Saudi Arabia 2.00 Jul/16
Costa Rica 1.75 Jul/16
Romania 1.75 Aug/16
Australia 1.50 Aug/16
Poland 1.50 Jul/16
Thailand 1.50 Aug/16
Cambodia 1.45 Jun/16
Taiwan 1.38 Jul/16
Albania 1.25 Aug/16
South Korea 1.25 Aug/16
United Arab Emirates 1.25 Jul/16
Comoros 1.16 Apr/16
Oman 1.00 Jul/16
Hungary 0.90 Aug/16
Bahrain 0.75 Jul/16
Hong Kong 0.75 Jul/16
Macau 0.75 Jul/16
Panama 0.52 May/16
Canada 0.50 Jul/16
Fiji 0.50 Aug/16
Norway 0.50 Jul/16
United States 0.50 Jul/16
Singapore 0.37 Jul/16
New Caledonia 0.25 Jul/16
United Kingdom 0.25 Aug/16
Israel 0.10 Aug/16
Czech Republic 0.05 Aug/16
Austria 0.00 Jul/16
Belgium 0.00 Jul/16
Bulgaria 0.00 Aug/16
Cyprus 0.00 Jul/16
Estonia 0.00 Jul/16
Euro Area 0.00 Jul/16
Finland 0.00 Jul/16
France 0.00 Jul/16
Germany 0.00 Jul/16
Greece 0.00 Jul/16
Ireland 0.00 Jul/16
Italy 0.00 Jul/16
Latvia 0.00 Jul/16
Lithuania 0.00 Jul/16
Luxembourg 0.00 Jul/16
Malta 0.00 Jul/16
Netherlands 0.00 Jul/16
Portugal 0.00 Jul/16
Slovakia 0.00 Jul/16
Slovenia 0.00 Jul/16
Spain 0.00 Jul/16
Japan -0.10 Jul/16
Sweden -0.50 Jul/16
Denmark -0.65 Jul/16
Switzerland -0.75 Jul/16