Afronomics dataset · Africa
Central-bank policy rates
The rate each central bank sets, read from the bank’s own website in its own words, beside what the same government paid at its latest one-year bill auction. When the bill sits well below the policy rate, the market expects cuts; well above, it expects rises or prices risk.
Kenya’s Central Bank Rate
8.75%
Central Bank Rate (Kenya)
unchanged unchangedvs reading of 6 Oct
As of 8 Oct 2026, confirmed 4 Nov 2026 · Source: Central Bank of Kenya
Today
Policy rate against the one-year bill
Highest policy rate first. The gap is the one-year bill minus the policy rate, in percentage points.
| Market | Rate, as the bank names it | Policy rate | Bank’s date | One-year bill | Gap | Next decision | Stored readings |
|---|---|---|---|---|---|---|---|
| MalawiReserve Bank of Malawi | Policy Rate | 24.00% | Mar 2026 | 16.00%3 Nov 2026 | −8.00 | not published | First printFollow Malawi policy rate |
| NigeriaCentral Bank of Nigeria | Monetary Policy Rate | 23.00% | 21st and 22nd September 2026 | 15.80%4 Nov 2026 | −7.20 | not published | down −350 bpsFollow Nigeria policy rate |
| EgyptCentral Bank of Egypt | Overnight deposit ratecorridor to 21.00% (lending) | 20.00% | not shown | 26.08%3 Nov 2026 | +6.08 | not published | up +100 bpsFollow Egypt policy rate |
| GhanaBank of Ghana | Monetary Policy Rate | 14.00% | not shown | 9.60%2 Nov 2026 | −4.40 | 18 Nov 2026 | First printFollow Ghana policy rate |
| ZambiaBank of Zambia | Monetary Policy Rate | 10.75% | 2026-09-30 | 10.00%29 Oct 2026 | −0.75 | not published | First printFollow Zambia policy rate |
| MozambiqueBanco de Moçambique | Taxa MIMO | 9.25% | 30-09-2026 | 12.10%21 Oct 2026 | +2.85 | 25 Nov 2026 | First printFollow Mozambique policy rate |
| KenyaCentral Bank of Kenya | Central Bank Rate | 8.75% | 07/10/2026 | 9.03%2 Nov 2026 | +0.28 | not published | unchanged unchangedFollow Central Bank Rate (Kenya) |
| South AfricaSouth African Reserve Bank | SARB Policy Rate | 7.25% | 2026-11-03 | 7.42%2 Nov 2026 | +0.17 | 19 Nov 2026 | unchanged unchangedFollow South Africa policy rate |
| TanzaniaBank of Tanzania | Central Bank Rate | 6.25% | 4th Quarter 2026 | 6.13%21 Oct 2026 | −0.12 | 7 Jan 2027 | unchanged unchangedFollow Tanzania policy rate |
Each policy rate is the figure on the central bank’s website when Afronomics read it (last read 4 Nov 2026); the bank’s date is the one it prints beside the rate, in its own format. Egypt sets a corridor: the overnight deposit rate is shown, with the lending rate beneath. Afronomics stores a reading each time a rate or the bank’s printed date changes, from 6 October 2026; a trend line appears once three are stored, so most markets have none yet. One-year bill rates are each market’s latest 364-day auction from the T-bill monitor.
Not yet included, because the bank’s site loads the rate by script rather than printing it: Uganda.
Calendar
Coming up: rate decisions
From each central bank's own calendar or its latest statement. Banks sometimes move a meeting; the linked page is the authority.
- Ghana · meets 16 Nov 2026, decision 18 Nov 202618 Nov 2026in 14 days
- South Africa19 Nov 2026in 15 days
- Mozambique25 Nov 2026in 21 days
- Tanzania · meets 6 Jan 2027, decision 7 Jan 20277 Jan 2027in 64 days
No date shown for Nigeria, Uganda, Egypt, Zambia: the bank does not publish a calendar Afronomics can read yet. Get an email the day any policy rate changes:
Cite or reuse this data
Free to quote, chart and republish with the credit “Source: Afronomics, compiled from the central banks’ own websites” and a link to this page.
Afronomics (2026). African central-bank policy rates, compiled from the central banks’ own websites. Retrieved 4 November 2026, from https://www.afronomicsfeed.com/rates/policy
Quick answers
Questions people ask
- What is the Central Bank Rate in Kenya?
- 8.75%, as the Central Bank of Kenya prints it (dated 07/10/2026).
- Which African central bank has the highest policy rate?
- Of the 9 central banks Afronomics reads, Malawi has the highest at 24.00% and Tanzania the lowest at 6.25%.
- What does a central bank's policy rate do?
- It is the rate the central bank sets for lending to banks. Banks' loan and deposit rates, and Treasury bill yields, tend to follow it.
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