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

The central bank of Kenya kept its benchmark interest rate unchanged at 10 percent for the thirteenth consecutive meeting on September 18th,2017, as widely expected. Policymakers said the decision aims to continue to anchor inflation expectations in the context of general macroeconomic stability, a prolonged election period and further uncertainties in the global economy. Interest Rate in Kenya averaged 14.05 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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Kenya Maintains Key Rate at 10%


The central bank of Kenya kept its benchmark interest rate unchanged at 10 percent for the thirteenth consecutive meeting on September 18th, 2017, as widely expected. Policymakers said the decision aims to continue to anchor inflation expectations in the context of general macroeconomic stability, a prolonged election period and continuous uncertainties in the global economy.

Excerpts from the MPC Press Release:

The Monetary Policy Committee (MPC) met on September 18, 2017, to review the outcome of its policy decisions and recent economic developments. The meeting was held against a backdrop of general macroeconomic stability, a prolonged election period, and continued uncertainties in the global economy.

Month-on-month overall inflation rose to 8.0 percent in August 2017 from 7.5 percent in July 2017 reflecting limited supply of some food items, particularly tomatoes, following transport difficulties in the immediate period after the general elections. Additionally, unusual demand for some food items such as wheat flour and rice in the period before the elections resulted in a temporary shortage. Nevertheless, the contribution to overall inflation of some items such as maize grain, maize flour, milk,sugar, and Irish potatoes decreased in part due to favorable weather conditions and the positive impact of Government measures. Non-food-non-fuel (NFNF) inflation remained stable below 5 percent suggesting that demand pressures in the economy were muted. A normalization of supply, the expected short rains, and supportive measures taken by the Government are expected to further lower food prices in the near term.

The Committee reviewed the recent economic developments and noted that growth expectations remain unchanged. The stable macroeconomic environment is expected to be supported by a recovery in agriculture due to normal weather conditions, a resilient services sector, continued infrastructure development, and stability in the global economy. Spending by the National and County Governments in the near term is expected to provide an additional stimulus.

The MPC Private Sector Market Perception Survey conducted in September 2017 showed that inflation was expected to decline due to lower food prices with the expected short rains and the Government subsidies on some food items. Growth expectations by banks and non-banks remained unchanged in the September 2017 survey relative to the July 2017 survey, with banks expecting a lower growth on account of weaker private sector credit growth and concerns over the continuing election process. However, nonbank private firms expect the continued public investment in infrastructure, and favourable weather conditions during the short rains season to support growth in 2017.

Although the outlook for global growth has improved, uncertainties remain particularly with regard to U.S. economic policies, the post-Brexit resolution, and the pace of normalization of monetary policies in advanced economies.

The Committee concluded that the current policy stance remains appropriate. The MPC therefore decided to retain the Central Bank Rate (CBR) at 10.0 percent in order to continue to anchor inflation expectations. The CBK will continue to closely monitor developments in the global and domestic economy, and stands ready to take additional measures as necessary.

Central Bank of Kenya |Luisa Carvalho | luisa.carvalho@tradingeconomics.com
9/18/2017 2:49:42 PM



Calendar GMT Actual Previous Consensus TEForecast
2017-05-29 01:30 PM Interest Rate Decision 10% 10% 10% 10%
2017-07-17 02:05 PM Interest Rate Decision 10% 10% 10% 10%
2017-09-18 02:20 PM Interest Rate Decision 10% 10% 10% 10%
2017-11-28 02:30 PM Interest Rate Decision 10% 10%


Kenya Money Last Previous Highest Lowest Unit
Interest Rate 10.00 10.00 84.67 0.83 percent [+]
Interbank Rate 8.10 6.99 68.30 0.40 percent [+]
Money Supply M1 1382.37 1394.32 1394.32 71.50 KES Billion [+]
Money Supply M2 2496.02 2484.65 2496.02 231.09 KES Billion [+]
Money Supply M3 2957938.58 2935261.20 2957938.58 244755.00 KES Million [+]
Foreign Exchange Reserves 11143.76 10785.80 11143.76 853.00 USD Million [+]
Deposit Interest Rate 8.70 9.20 18.40 2.43 percent [+]
Loans To Private Sector 2326105.00 2335247.00 2344446.00 166281.00 KES Million [+]
Central Bank Balance Sheet 866494.00 877544.00 944875.00 93720.00 KES Million [+]


Kenya Interest Rate

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 September 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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Russia 8.50 Sep/17
Brazil 8.25 Sep/17
Turkey 8.00 Sep/17
Mexico 7.00 Aug/17
India 6.00 Aug/17
Indonesia 4.50 Aug/17
China 4.35 Aug/17
Australia 1.50 Sep/17
South Korea 1.25 Aug/17
United States 1.25 Sep/17
Canada 1.00 Sep/17
United Kingdom 0.25 Sep/17
Euro Area 0.00 Sep/17
France 0.00 Sep/17
Germany 0.00 Sep/17
Italy 0.00 Sep/17
Netherlands 0.00 Sep/17
Spain 0.00 Sep/17
Japan -0.10 Sep/17
Switzerland -0.75 Sep/17