The Central Bank of Kenya (CBK) Treasury Bills auction on January 22, 2026, saw undersubscription across all tenors.
The 91-day paper received bids amounting to KES 1.37 billion, against a targeted amount of KES 4.0 billion, translating to a performance rate of 34.3%.
The 182-day paper recorded the highest subscription at 88.3%, up from a subscription of 5.8% in the previous auction. The paper received bids totaling KES 8.83 billion, against a targeted amount of KES 10 billion.
The 364-day paper, which targeted KES 10 billion, received bids amounting to KES 8.15 billion, representing a performance rate of 81.5%, down from an oversubscription of 192.8% in last week’s auction.
Treasury Bills Interest Rates
The paper’s average interest rates recorded modest changes compared to last week’s auction. The 91-day paper had an average interest of 7.7274%, up 2.63 bps from 7.7011% the previous week. The 182-day paper had an interest rate of 7.7934%, down 0.66 bps, while the 364-days paper had an interest rate of 9.2002%, down 0.31 bps.
The CBK accepted KES 18.21 billion out of KES 18.35 billion in bids, bringing the cumulative amount accepted in calendar year 2026 Treasury Bills auctions to KES 72.89 billion.
CBK Interest Rate
With the first CBK Monetary Policy Committee (MPC) meeting of the year approaching (it has been set for Tuesday, 10th February 2025), investors are closely watching the direction of the Central Bank Rate (CBR), a key benchmark that influences Treasury bill yields. Currently, the CBR stands at 9.00%.
Also Read: Treasury Switch Bonds Oversubscribed by 32%
