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 seventh consecutive meeting on November 23rd 2017, as widely expected. Policymakers said the decision aims to continue to anchor inflation expectations in the context of favourable weather conditions, sustained macroeconomic stability, the conclusion of a prolonged election period, and an improvement in the global economy outlook. Interest Rate in Kenya averaged 14.03 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 Leaves Monetary Policy Unchanged


The central bank of Kenya kept its benchmark interest rate unchanged at 10 percent for the seventh consecutive meeting on November 23rd 2017, as widely expected. Policymakers said the decision aims to continue to anchor inflation expectations in the context of favourable weather conditions, sustained macroeconomic stability, the conclusion of a prolonged election period, and an improvement in the global economy outlook.

Month-on-month overall inflation fell to 5.7 percent in October 2017 from 7.1 percent in September 2017, thereby remaining within the Government target range. This decline was largely due to lower food prices, particularly for cabbages and Irish potatoes. The decrease in food prices offset the increases in fuel and electricity prices in October. Non-food-non-fuel (NFNF) inflation remained below 5 percent, demonstrating that demand pressures are muted. Despite an increase in international oil prices which has exerted upward pressure on fuel prices, improved weather conditions and the extension of the maize subsidy are expected to continue supporting a further lowering in food prices and a decline in overall inflation in the near term.

The Committee noted that despite the effects of the drought experienced in the first half of 2017, and the prolonged elections in the second half of the year, economic growth has remained resilient. Growth has principally been supported by the services sector particularly the Micro, Small and Medium Enterprises (MSMEs). The economy is expected to grow by 5.1 percent in 2017, and to pick up strongly in the medium term supported by a stable macroeconomic environment.

The MPC Private Sector Market Perception Survey conducted in November 2017 showed that inflation was well anchored and is expected to decline in the short term. Respondents expected the exchange rate to remain stable supported by strong diaspora remittances and sufficient CBK foreign exchange reserves. The Survey also showed optimism in the economic prospects, with the conclusion of the elections, improved weather conditions, and continued public investment in infrastructure.

The Committee concluded that inflationary pressures in the economy were muted, and inflation was expected to continue to decline in the short term. The MPC therefore decided to retain the Central Bank Rate (CBR) at 10.0 percent. The MPC continues to monitor the impact of the interest rate caps on the effective transmission of monetary policy. 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 | Stefanie Moya | stefanie.moya@tradingeconomics.com
11/23/2017 3:34:03 PM



Calendar GMT Actual Previous Consensus TEForecast
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%
2017-11-23 01:30 PM Interest Rate Decision 10.00% 10% 10% 10%


Kenya Money Last Previous Highest Lowest Unit
Interest Rate 10.00 10.00 84.67 0.83 percent [+]
Interbank Rate 7.90 5.50 68.30 0.40 percent [+]
Money Supply M1 1382.67 1364.34 1394.32 71.50 KES Billion [+]
Money Supply M2 2515.09 2503.15 2515.09 231.09 KES Billion [+]
Money Supply M3 2990307.36 2966991.97 2990307.36 244755.00 KES Million [+]
Foreign Exchange Reserves 10934.40 10984.30 11233.00 853.00 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 November of 2017.

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




interest rate by Country
Country Last
Russia 8.25 Oct/17
Turkey 8.00 Oct/17
Brazil 7.50 Oct/17
Mexico 7.00 Nov/17
India 6.00 Oct/17
China 4.35 Oct/17
Indonesia 4.25 Nov/17
Australia 1.50 Nov/17
South Korea 1.25 Oct/17
United States 1.25 Nov/17
Canada 1.00 Oct/17
United Kingdom 0.50 Nov/17
Euro Area 0.00 Oct/17
France 0.00 Oct/17
Germany 0.00 Oct/17
Italy 0.00 Oct/17
Netherlands 0.00 Oct/17
Spain 0.00 Oct/17
Japan -0.10 Oct/17
Switzerland -0.75 Oct/17