The steady decline in Treasury bill interest rates has eased off over the last four weeks, indicating that investors are reluctant to accept lower returns amid an upward revision of the government’s borrowing target and below par tax collection.
Central Bank of Kenya (CBK) data on the weekly auctions shows that the rate on the 364-day T-bill has declined only marginally from 10.02 percent to 10 percent over the period, having fallen from 10.5 percent in the previous month.
