Bank Interest Rate in Kenya 2022 Latest Update

Filed in Articles by on April 11, 2022 0 Comments

Do you want to know the current interest rate in Kenya? If yes, then this article is for you.

Interest Rate in Kenya 2022

In Kenya, interest rates decisions are taken by The Monetary Policy Committee (MPC) of 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.

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Interest Rate in Kenya 2022

The central bank of Kenya kept its benchmark interest rate at 7% during its March 2022 meeting, as expected, to continue supporting the domestic recovery. Policymakers said that the current accommodative monetary policy remains appropriate as inflation expectations remain anchored within the target range supported by the government’s policy interventions. At the same time, leading economic indicators show improved economic performance. Headline inflation fell to a 16-month low of 5.1% in February of 2022 from 5.4% in January, mainly due to the effect of government measures to stabilize fuel prices and electricity tariffs. Thus, inflation is expected to remain within the target range in the near term.

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Source: Sabonews.org

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