Kenya Interest Rate  1991-2018 | Data | Chart | Calendar | Forecast | News

The central bank of Kenya kept its benchmark interest rate unchanged at 10 percent for the eighth consecutive meeting on January 22nd 2018, as widely expected. The Committee said the decision aims to anchor inflation expectations in the context of sustained macroeconomic stability, increased optimism on growth prospects, improving business environment, and continued strengthening of the global economy. Interest Rate in Kenya averaged 14 percent from 1991 until 2018, 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 Keeps Interest Rate Steady at 10%


The central bank of Kenya kept its benchmark interest rate unchanged at 10 percent for the eighth consecutive meeting on January 22nd 2018, as widely expected. The Committee said the decision aims to anchor inflation expectations in the context of sustained macroeconomic stability, increased optimism on growth prospects, improving business environment, and continued strengthening of the global economy.

Excerpts from the MPC Press Release:

Month-on-month overall inflation fell to 4.5 percent in December 2017 from 4.7 percent in November 2017, thereby remaining within the Government target range. This decline was due to lower food prices reflecting improved supply of key food items, particularly cabbages, Irish potatoes, tomatoes, sugar, and maize flour. The decrease in food prices outweighed the increase in fuel and electricity prices, and the rise in transport costs during the festive period. Non-food-non-fuel (NFNF) inflation remained below 5 percent demonstrating that demand driven inflationary pressures remained muted. Although the rise in international oil prices is expected to exert moderate upward pressure, overall inflation is expected to remain well anchored and within the Government target range in the near term.

The MPC Private Sector Market Perception Survey conducted in January 2018 showed an upsurge in optimism by the private sector for the economic prospects in 2018. More than 90 percent of the respondents were optimistic about prospects for 2018, compared to 65 percent in November 2017. These respondents attributed their optimism to a stable macroeconomic environment, improved business environment and investor confidence, continued public investment in infrastructure, and expected commencement of direct flights to the U.S.

The MPC noted increased optimism for growth prospects in the economy and that inflation expectations are well anchored within the Government target range. The Committee noted that there was some room for accommodative monetary policy in the near term, as well as the risk of perverse outcomes. It concluded that there was need to further monitor and assess the impact of its policy actions. The MPC therefore decided to retain the Central Bank Rate (CBR) at 10.0 percent. The Committee 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
1/22/2018 2:16:06 PM



Calendar GMT Actual Previous Consensus TEForecast
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%
2018-01-22 01:30 PM Interest Rate Decision 10% 10% 10% 10%
2018-03-19 03:30 PM Interest Rate Decision 10%


Kenya Money Last Previous Highest Lowest Unit
Interest Rate 10.00 10.00 84.67 0.83 percent [+]
Interbank Rate 7.70 8.86 68.30 0.40 percent [+]
Money Supply M1 1397.26 1387.75 1397.26 71.50 KES Billion [+]
Money Supply M2 2538.20 2520.99 2538.20 231.09 KES Billion [+]
Money Supply M3 3028141.17 3012333.53 3028141.17 244755.00 KES Million [+]
Foreign Exchange Reserves 9694.40 9698.10 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 934656.00 946464.00 962805.00 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 February of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
10.00 10.00 84.67 0.83 1991 - 2018 percent Daily




interest rate by Country
Country Last
Turkey 8.00 Jan/18
Mexico 7.50 Feb/18
Russia 7.50 Feb/18
Brazil 6.75 Feb/18
India 6.00 Feb/18
China 4.35 Jan/18
Indonesia 4.25 Feb/18
Australia 1.50 Feb/18
South Korea 1.50 Jan/18
United States 1.50 Jan/18
Canada 1.25 Jan/18
United Kingdom 0.50 Feb/18
Euro Area 0.00 Jan/18
France 0.00 Jan/18
Germany 0.00 Jan/18
Italy 0.00 Jan/18
Netherlands 0.00 Jan/18
Spain 0.00 Jan/18
Japan -0.10 Jan/18
Switzerland -0.75 Jan/18


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