Economic update

Financial markets:
  • Equity markets: After recording a sharp decline in January, the market rebounded in February. The NSE 20 and NASI indices gained 7.2% and 2.2% respectively.
  • Bond market: The NSE yield curve remained stable during the month of February.
  • Offshore markets: The US unemployment rate fell to 4.7% in February from 4.8% recorded in the previous month. Its labour market added 235,000 jobs against 190,000 expected.
Macro-economic:
  • Inflation: Inflation spiked to a four and a half year high of 9.04% in February from 6.99% a month earlier.
  • Interest rates: Short-term interest rates remained stable in February.
  • Currency: During the month, the Kenya shilling gained by 1.0%, 2.9% and 2.4% against the USD, the Euro, the Sterling Pound respectively.
Download Kenya February 2017 Markets update PDF