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

The Central Bank of Kenya held its benchmark bank rate steady at 10 percent at its May 29th 2017 meeting, in line with market expectations. Policymakers said inflation is expected to remain above the 2.5-7.5 percent target in the near term although food prices are likely to ease amid improved weather conditions. Interest Rate in Kenya averaged 14.10 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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Calendar GMT Actual Previous Consensus Forecast (i)
2017-01-30 02:30 PM Interest Rate Decision 10% 10% 10% 10%
2017-03-27 03:30 PM Interest Rate Decision 10% 10% 10% 10%
2017-05-29 01:30 PM Interest Rate Decision 10% 10% 10% 10%
2017-07-25 01:30 PM Interest Rate Decision 10% 11%
2017-09-20 01:30 PM Interest Rate Decision 11%
2017-11-28 02:30 PM Interest Rate Decision 11%




Kenya Holds Key Rate At 10%


The Central Bank of Kenya held its benchmark bank rate steady at 10 percent at its May 29th 2017 meeting, in line with market expectations. Policymakers said inflation is expected to remain above the 2.5-7.5 percent target in the near term although food prices are likely to ease amid improved weather conditions.

Excerpts from the MPC Press Release:

The meeting was held against a backdrop of improved weather conditions, expectations of lower food prices, and general macroeconomic stability. 

The inflation rate rose to 11.5 percent in April from 10.3 percent in March 2017, due to increases in food prices, notably sifted maize flour, sugar, kales (sukuma wiki) and tomatoes. Nevertheless, the recent rains and interventions by the Government are expected to provide some relief. Non-food-non-fuel (NFNF) inflation remained stable below 5 percent, suggesting that demand pressures and pass-through effects of high food prices are muted.

The foreign exchange market has remained stable, supported by a narrower current account deficit. Receipts from tea and horticulture are  resilient despite lower export volumes due to adverse weather conditions in the first quarter of 2017. Additionally, receipts from tourism, coffee exports, and diaspora remittances have remained strong. 

Although a modest pick-up in global growth is expected in 2017 there are considerable risks to the outlook. Uncertainties remain on the economic policies of the U.S. administration, the Brexit outcome, and normalization of monetary policy in the advanced economies. These risks also have potential implications on global financial market stability.

The Committee concluded that overall inflation is expected to remain above the Government target range in the near term due to elevated prices for some food items. Nevertheless, the prevailing policy stance had reduced the threat of demand driven inflation. The MPC therefore decided to retain the Central Bank Rate (CBR) at 10.0 percent. The Committee will continue to closely monitor developments in the domestic and global economies, and stands ready to take additional measures as necessary.

Central Bank of Kenya | Joana Taborda | joana.taborda@tradingeconomics.com
5/29/2017 1:53:05 PM



Kenya Money Last Previous Highest Lowest Unit
Interest Rate 10.00 10.00 84.67 0.83 percent [+]
Interbank Rate 5.34 4.46 68.30 0.40 percent [+]
Money Supply M1 1361.28 1315.04 1361.28 71.50 KES Billion [+]
Money Supply M2 2431.29 2393.54 2431.29 231.09 KES Billion [+]
Money Supply M3 2880555.78 2832911.49 2880555.78 244755.00 KES Million [+]
Foreign Exchange Reserves 9929.40 9724.10 10602.20 853.00 USD Million [+]
Deposit Interest Rate 8.70 9.20 18.40 2.43 percent [+]
Loans To Private Sector 2322456.00 2297659.00 2322456.00 166281.00 KES Million [+]
Central Bank Balance Sheet 944875.00 920434.00 944875.00 93720.00 KES Million [+]


Kenya Interest Rate Notes

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 June 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

Last
Brazil 10.25 May/17
Russia 9.00 Jun/17
Turkey 8.00 Jun/17
Mexico 7.00 Jun/17
India 6.25 Jun/17
Indonesia 4.75 Jun/17
China 4.35 Jun/17
Australia 1.50 Jun/17
South Korea 1.25 May/17
United States 1.25 Jun/17
Canada 0.50 May/17
United Kingdom 0.25 Jun/17
Euro Area 0.00 Jun/17
France 0.00 Jun/17
Germany 0.00 Jun/17
Italy 0.00 Jun/17
Netherlands 0.00 Jun/17
Spain 0.00 Jun/17
Japan -0.10 Jun/17
Switzerland -0.75 Jun/17