The central bank of Kenya left its key interest rate steady at 7% during its January 2021 meeting, as widely expected. Policymakers said that the current accommodative monetary policy stance remains appropriate, as policy measures implemented since March were having the intended effect on the economy, and are being augmented by the implementation of fiscal measures announced in the FY2020/21 Budget. Policymakers said that leading indicators for the Kenyan economy point to a recovery in the Q4 of 2020, supported largely by strong performance in the agriculture and construction sectors, resilient exports, manufacturing and services. The economy is expected to perform strongly in 2021, driven by the services sectors particularly education, manufacturing, resilient agriculture and the ongoing policy support through the government’s economic recovery plan. Meantime, the inflation rate remains well anchored and it is projected to remain within the target range of 2.5-7.5% in the near term. source: Central Bank of Kenya
Interest Rate in Kenya averaged 13.43 percent from 1991 until 2021, 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. 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 - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.
Interest Rate in Kenya is expected to be 6.75 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Kenya to stand at 6.50 in 12 months time. In the long-term, the Kenya Interest Rate is projected to trend around 6.25 percent in 2022, according to our econometric models.