The Central Bank of Kenya's Monetary Policy Committee retained the Central Bank Rate at 8.75% on 7 October 2026. The decision means the policy rate remains unchanged while households and investors continue to face a mixed rate environment.
September inflation was 6.8%. CBK's latest published average bank lending rate is 14.34% for August, the average deposit rate is 6.91%, and KESONIA stood at 8.7507% on 7 October. The latest Treasury Bill averages shown by CBK for the 12 October issue are 8.7615% for 91 days, 8.8744% for 182 days and 9.0352% for 364 days.
Kenya's key rates right now
| Measure | Latest verified figure | What it describes |
|---|---|---|
| Central Bank Rate | 8.75% | CBK policy rate, retained 7 Oct 2026 |
| KESONIA | 8.7507% | Overnight Kenya-shilling benchmark, 7 Oct |
| Inflation | 6.8% | Annual consumer inflation, September 2026 |
| Average bank lending rate | 14.34% | Average commercial-bank lending rate, August 2026 |
| Average deposit rate | 6.91% | Average commercial-bank deposit rate, August 2026 |
| 91-day T-Bill | 8.7615% | Latest CBK average shown for the 12 Oct issue |
What it means for borrowers
An 8.75% CBR does not mean a borrower should expect an 8.75% personal loan. Banks price credit using funding costs, credit risk, operating costs, customer characteristics and their own pricing frameworks. That is why the average bank lending rate remains much higher at 14.34%.
If you are comparing borrowing, use AMKA's bank loan rates page as a starting point, then ask the lender for the total cost of credit, repayment schedule and repricing terms.
What it means for savers
Average bank deposit rates were 6.91% in August, close to September inflation of 6.8% on a simple headline comparison. Your actual rate may differ, taxes or fees may apply, and inflation measures a broad consumer basket rather than your own spending pattern.
Savers can compare deposits with money market funds and Treasury Bills, but the comparison should include access, maturity, minimums, fees and risk rather than only the highest percentage.
What it means for Treasury Bills
The latest CBK averages for 91-day, 182-day and 364-day Treasury Bills are 8.7615%, 8.8744% and 9.0352% respectively. These are auction outcomes for government securities, not policy rates. The useful comparison is the rate together with the maturity period.
AMKA's companion guide compares the 91-day, 182-day and 364-day T-Bills side by side.
What inflation changes
KNBS reported annual consumer inflation of 6.8% in September 2026. Inflation matters because a nominal return can look different after considering changes in the cost of living. It is useful to compare the return, access and risk of an option with inflation, but not to treat inflation as a personalised investment hurdle.
Three checks after the October decision
- Borrowing: check your actual effective loan rate and repricing terms.
- Saving: compare deposits, MMFs and T-Bills on liquidity, minimums and net outcome.
- Investing: treat the CBR as economic context, not as a signal to buy a particular product.
Primary sources checked
- Central Bank of Kenya — MPC decision, 7 Oct 2026 ↗
- Central Bank of Kenya — current key rates ↗
- KNBS — September 2026 CPI and inflation ↗
Educational information only, not personalised financial advice. Rates and product terms change. Verify current provider and regulator information before acting.