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Rate on 91-day T-bill dips below 9pc for the first time in 27 months
The Central Bank of Kenya in Nairobi. The CBK is likely to be more aggressive in pushing rates lower as it addresses a contraction in private sector credit.
The return on the 91-day Treasury bill fell below nine percent for the first time since October 2022 in the latest auction as the cost of government borrowing adjusted to the latest rate cut by the Central Bank of Kenya (CBK).
In the sale, the CBK also took advantage of oversubscription to leave expensive bids on the table, helping cut the rates across all three T-bill tenors. The sale raised offers of Sh44.26 billion, out of which the CBK took up Sh25.14 billion.
