The Central Bank of Kenya unexpectedly cut its benchmark interest rate by 25 bps to 8.25% during its January meeting, after slashing it by 50 bps in November, citing a backdrop of well-anchored inflation and inflation expectations. Policymakers said that the economy was operating below its potential and there was room for a more accommodative stance provided by the ongoing tightening of fiscal policy, especially after the repeal of the interest rate cap law last November. The GDP is seen growing faster in 2020, mainly boosted by the recovery of the agricultural sector due to the recent interventions by the government, MSMEs performance, private sector credit growth, continued implementation of the Big 4 agenda and a stable macroeconomic environment. Still, domestic adverse weather conditions and global uncertainties remain the main risks to the outlook.

Interest Rate in Kenya averaged 13.66 percent from 1991 until 2020, 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. source: Central Bank of Kenya

Interest Rate in Kenya is expected to be 8.25 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 8.00 in 12 months time. In the long-term, the Kenya Interest Rate is projected to trend around 7.50 percent in 2020, according to our econometric models.


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Kenya Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
8.25 8.50 84.67 0.83 1991 - 2020 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2019-07-24 01:30 PM 9% 9% 9% 9%
2019-09-23 01:30 PM 9% 9% 9% 9%
2019-11-25 01:40 PM 8.5% 9% 9% 9%
2020-01-27 01:30 PM 8.25% 8.5% 8.5% 8.5%


News Stream
Kenya Trims Interest Rate by 25 Bps to 8.25% in January
The Central Bank of Kenya unexpectedly cut its benchmark interest rate by 25 bps to 8.25% during its January meeting, after slashing it by 50 bps in November, citing a backdrop of well-anchored inflation and inflation expectations. Policymakers said that the economy was operating below its potential and there was room for a more accommodative stance provided by the ongoing tightening of fiscal policy, especially after the repeal of the interest rate cap law last November. The GDP is seen growing faster in 2020, mainly boosted by the recovery of the agricultural sector due to the recent interventions by the government, MSMEs performance, private sector credit growth, continued implementation of the Big 4 agenda and a stable macroeconomic environment. Still, domestic adverse weather conditions and global uncertainties remain the main risks to the outlook.
2020-01-27
Kenya Cuts Interest Rate to 8.5%
The Central Bank of Kenya lowered its benchmark interest rate by 5bps to 8.5% during its November meeting, surprising markets that expected the rate to be left on hold. The bank cited a backdrop of domestic macroeconomic stability, the recent repeal of interest rate caps, heightened global uncertainties and volatility in international markets. The Committee added that will continue to closely monitor developments in the global and domestic economy, and that is ready to take additional measures if necessary.
2019-11-25
Kenya Holds Policy Rate Steady at 9%
The Central Bank of Kenya left its benchmark interest rate at 9% during its September meeting, as widely expected, saying that inflation remained well anchored within the target range and that the economy was operating close to its potential. The Committee also noted that the projected tightening of fiscal policy will probably provide scope for accommodative monetary policy in the near term. Still, policymakers stressed that there is need to remain vigilant on the possible effects of the increased uncertainties in the external environment, namely the escalation of trade tensions between the US and China, other geo-political tensions which have resulted in volatile international markets, and shifting expectations on the nature and timing of Brexit.
2019-09-23
Kenya Holds Interest Rate at 9%
The Central Bank of Kenya held its benchmark interest rate at 9 percent during its July meeting, saying that inflation expectations remained well anchored withing the target range and that the economy was operating close to its potential Still, policymakers voiced concerns about the possible effects of the recent increases in fuel prices, the ongoing demonetization and the ongoing uncertainties in the external environment, in particular escalating trade tensions, Brexit and geopolitical tensions.
2019-07-24

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.