Kenya Interest Rate 1991-2015 | Data | Chart | Calendar | Forecast | News

The benchmark interest rate in Kenya was last recorded at 10 percent. Interest Rate in Kenya averaged 14.37 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
10.00 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 Sunday, July 5, 2015.

Calendar GMT Reference Actual Previous Consensus Forecast (i)
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%
2015-06-09 01:40 PM 10% 8.5% 9.5% 8.5%
2015-07-06 01:00 PM 10% 10%


Kenya Hikes Key Rate to 10%


Central Bank of Kenya raised its key interest rate by 150bps to 10.0 percent on June 9th, the highest level since December 2012. Although inflation has dropped in May due to seasonal factors, policymakers voiced concern about the growing demand pressure and the persistent volatility in the global foreign exchange markets.

Excerpts from the statement by the Central Bank of Kenya:

The Committee noted that the decline in overall inflation in May 2015 was largely a reflection of significant decreases in the prices of a number of food items following the onset of the long rains.  However, overall inflation remained within the upper bound of the Government target range of 2.5 percent on either side of the medium-term target of 5 percent.

The exchange rate of the Kenya Shilling against the US Dollar had remained under pressure largely reflecting the stronger US Dollar in the global currency market, the widening current account deficit and sustained high demand for foreign exchange in April and May 2015.  However, the exchange rate has stabilised in response to the active monetary policy operations leading to the tight liquidity conditions in the interbank market.

The Committee concluded that the tightening bias stance adopted by the MPC and implemented through the CBK monetary operations had curtailed the rapid depreciation in the exchange rate.  However, the emerging aggregate demand pressures and the persistent volatility in the global foreign exchange markets coupled with the projected recovery in international oil prices have implications on inflationary expectations and the potential of the pass-through of the past exchange rate movements on consumer price inflation.  

Central Bank of Kenya | Joana Ferreira | joana.ferreira@tradingeconomics.com
6/9/2015 2:33:34 PM


Recent Releases

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.
Published on 2015-05-06

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 Leaves Monetary Policy Unchanged
Central Bank of Kenya decided on November 4th to leave the benchmark interest rate unchanged at 8.5 percent, as current policy stance had moderated inflationary pressures.
Published on 2014-11-05


Kenya Money Last Previous Highest Lowest Unit
Interest Rate 10.00 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 2046.77 231.09 KES Billion [+]
Money Supply M3 2398762.00 2407825.00 2407825.00 244755.00 KES Billion [+]
Foreign Exchange Reserves 9834.29 9873.29 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 1950600.00 1935079.00 1950600.00 166281.00 KES Million [+]


Interest Rate Reference Previous Highest Lowest Unit
Australia 2.00 Jun/15 2.00 17.50 2.00 percent [+]
Brazil 13.75 Jun/15 13.25 45.00 7.25 percent [+]
Canada 0.75 May/15 0.75 16.00 0.25 percent [+]
China 4.85 Jun/15 5.10 10.98 4.85 percent [+]
Euro Area 0.05 Jun/15 0.05 4.75 0.05 percent [+]
France 0.05 Jun/15 0.05 4.75 0.05 percent [+]
Germany 0.05 Jun/15 0.05 4.75 0.05 percent [+]
India 7.25 Jun/15 7.50 14.50 4.25 percent [+]
Indonesia 7.50 Jun/15 7.50 12.75 5.75 percent [+]
Italy 0.05 Jun/15 0.05 4.75 0.05 percent [+]
Japan 0.00 Jun/15 0.00 9.00 0.00 percent [+]
Mexico 3.00 Jun/15 3.00 9.25 3.00 percent [+]
Netherlands 0.05 Jun/15 0.05 4.75 0.05 percent [+]
Russia 11.50 Jun/15 12.50 17.00 5.00 percent [+]
South Korea 1.50 Jun/15 1.75 5.25 1.50 percent [+]
Spain 0.05 Jun/15 0.05 4.75 0.05 percent [+]
Switzerland -0.75 Jun/15 -0.75 3.50 -0.75 percent [+]
Turkey 7.50 Jun/15 7.50 500.00 4.50 percent [+]
United Kingdom 0.50 Jun/15 0.50 17.00 0.50 percent [+]
United States 0.25 Jun/15 0.25 20.00 0.25 percent [+]