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.

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Kenya Interest Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-09-29 02:30 PM 8.25% 7.5% 7.5% 7.5%
2022-11-23 02:10 PM 8.75% 8.25% 8.75% 9%
2023-01-30 02:00 PM 8.75% 8.75% 8.75% 8.75%
2023-03-29 02:00 PM 8.75% 9.25%


Related Last Previous Unit Reference
Interest Rate 8.75 8.75 percent Feb 2023
Interbank Rate 6.42 5.89 percent Feb 2023
Money Supply M1 1967.09 1901.98 KES Billion Dec 2022
Money Supply M2 3613.45 3537.29 KES Billion Dec 2022
Money Supply M3 4534499.36 4460185.00 KES Million Dec 2022
Foreign Exchange Reserves 12084.70 11407.70 USD Million Dec 2022
Central Bank Balance Sheet 1411932.00 1396416.00 KES Million Jun 2022
Loans to Private Sector 2326105.00 2335247.00 KES Million Apr 2017

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.
Actual Previous Highest Lowest Dates Unit Frequency
8.75 8.75 84.67 0.83 1991 - 2023 percent Daily

News Stream
Kenya Holds Key Interest Rate at 8.75%
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, afrom 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.
2023-01-30
Kenya Lifts Interest Rate to 8.75%
The central bank of Kenya raised its benchmark interest rate by 50 bps to 8.75% at its November 2022 meeting, in line with market forecasts. It marks the third straight rate hike this year, bringing borrowing costs to the highest since late 2019. Policymakers noted the sustained inflationary pressures, the elevated global risks and their potential impact on the domestic economy and concluded that there was scope for a further tightening of the monetary policy in order to anchor inflation expectations. The annual inflation rate in Kenya accelerated for the eighth straight month to a fresh 5-year high of 9.6% in October of 2022, from 9.2% in September. Meanwhile, the recently released GDP data for the second quarter together with leading indicators of economic activity suggest that the Kenyan economy should remain strong in 2022.
2022-11-23
Kenya Hikes Interest Rate to 8.25%
The central bank of Kenya raised its benchmark interest rate by 75 bps to 8.25% at its September 2022 meeting, surprising markets that expected it to remain steady at 7.5%. It marks the second straight rate hike this year, bringing borrowing costs to the highest since February of 2020, to combat persistent inflationary pressures in a context of elevated global risks. Kenya's headline inflation rate accelerated for the sixth straight month to an over five-year high of 8.5% in August, almost in line with market forecasts.
2022-09-29