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 April 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.

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Kenya Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
7.00 7.00 84.67 0.83 1991 - 2021 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2020-09-29 01:30 PM 7% 7% 7% 7%
2020-11-26 02:00 PM 7% 7% 7% 7%
2021-01-27 02:05 PM 7% 7% 7% 7%
2021-03-29 02:00 PM 7% 7% 7%
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Kenya Holds Key Interest Rate Steady at 7%
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.
2021-03-29
Kenya Leaves Monetary Policy Unchanged
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.
2021-01-27
Kenya Holds Key Interest Rate Steady at 7%
The central bank of Kenya kept its benchmark interest rate unchanged at 7% during its November 2020 meeting, as widely expected, despite the still highly uncertain outlook due to the Covid-19 pandemic. 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, which will be reinforced by the implementation of fiscal measures announced in the FY2020/21 government budget. The Committee added that leading indicators for the Kenyan economy suggest an economic recovery in the second half of 2020, mainly driven by agriculture, manufacturing, exports, and services following the easing of COVID-19 restrictions. 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, supported by lower food prices and muted demand pressures.
2020-11-26
Kenya Holds Key Interest Rate Steady at 7%
The central bank of Kenya kept its benchmark interest rate unchanged at 7% during its September 2020 meeting, as widely expected, despite a still-challenging economic backdrop due to Covid-19. 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, which will be reinforced by the implementation of fiscal measures announced in the FY2020/21 government budget. Policymakers added that leading indicators for the Kenyan economy for the third quarter point to a strong recovery in economic activity, mainly supported by agriculture, increased activity in key sectors such as services with the easing of Covid-19 restrictions, normalisation of exports and government intervention to mitigate the impact of the pandemic. Meanwhile, 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.
2020-09-29

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.