The central bank of Kenya kept its benchmark interest rate unchanged at 8.75% at its January 2023 meeting, in line with market forecasts, saying the impact of the further tightening of monetary policy in November 2022 to anchor inflationary pressures was still transmitting through the economy. At the same time, Kenya's inflation rate slowed for the second consecutive month to 9.1% in December 2022, the lowest since August, from a 9.5% in November; and it is expected to fall further in the near term. Meanwhile, the recently released GDP data for the third quarter of 2022 together with leading indicators show that the Kenyan economy registered strong growth in 2022, estimated at 5.6%. The economy is expected to remain resilient in 2023, supported by the continued strong performance of the services sector and expected recovery in agriculture, despite the global uncertainties. source: Central Bank of Kenya
Interest Rate in Kenya averaged 13.04 percent from 1991 until 2023, 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 March of 2023.
Interest Rate in Kenya is expected to be 9.25 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Kenya Interest Rate is projected to trend around 8.00 percent in 2024 and 7.00 percent in 2025, according to our econometric models.