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FX

A running file

The kenya-tbills file

Every Receipt on this subject, newest first. Next on the calendar: Next MPC decision, due in December 2026 according to the October release.

  • Markets DeskReceipt

    The T-bill party is over: KES 500,000 in a one-year bill now earns KES 33,700 a year less

    Our verdict · Opinion

    The fall from 17% to 9% is the price of lower inflation and cheaper loans, and the savers who treated 2024's rates as normal are the ones paying it.

    In April 2024 the 364-day Treasury bill paid 16.99%. At today's auction it paid 9.04%. On KES 500,000, that is KES 72,009 a year after tax then and KES 38,308 now. The CBK cut its rate from 13% to 8.75%, and savers moved to money market funds, which have grown from KES 171 billion to KES 460 billion in two years.