The central bank of Kenya left its key interest rate steady at 7% during its March 2021 meeting, saying that the package of accommodative monetary policies, together with the fiscal stimulus announced in the FY2020/21 Budget, have been appropriate to support the economy hit by the COVID-19 pandemic. Policymakers have also noted that the economic recovery observed in the fourth quarter of 2020 and in the first quarter of 2021 was mainly driven by robust performances in the sectors of agriculture, construction, real estate, finance and insurance, and wholesale and retail trade. Nevertheless, officials voiced concerns about the dependency of such a rebound on the success of the containment measures and on the vaccination program rollout. Lastly, the central bank said inflation remains well anchored and is forecast to remain stable in the short run. source: Central Bank of Kenya
Interest Rate in Kenya averaged 13.40 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 May of 2021.
Interest Rate in Kenya is expected to be 7.00 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.