The central bank of Kenya kept its benchmark interest rate unchanged at 7% during its June 2020 meeting. Policymakers considered that the package of policy measures adopted since March to cushion the hit from the pandemic were having the intended effect, which will be reinforced by fiscal measures announced in the government's budget for FY2020/2021. The bank said that most recent leading indicators point to strong growth in the Q1 of 2020, while those for the Q2 suggest the impact of the Covid-19 mostly in April, with evidence of recovery in May, supported by higher agricultural output and exports. Meanwhile, inflation is projected to remain within the target range of 2.5-7.5% in the short term. The Committee also welcomed the extension of the central bank's emergency measures on June 24, in particular, those to facilitate official and personal transfers to vulnerable households.
Interest Rate in Kenya averaged 13.56 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. Kenya Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Central Bank of Kenya
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 6.50 percent in 2021 and 6.25 percent in 2022, according to our econometric models.