肯尼亚10年期国债 (Kenya10Y) 加自选

2025年2月，斯坦比克银行肯尼亚采购经理人指数从上个月的三个月低点50.5微升至50.6，标志着其连续第五个月扩张。产出连续第五个月加速，以2024年11月以来的最快速度增长，主要是由于更有利的经济环境提振了需求。此外，在现金流改善、价格压力减轻以及新产品和服务推出的支持下，新订单连续第五个月增加。此外，就业人数回升至四个月来的最高点，但增幅仍然不大。在定价方面，2月份投入成本继续疲软，以四个月来最慢的速度增长，主要归因于购买价格的温和上涨。最后，未来一年的商业情绪降至2月份有史以来的最低水平之一，反映出对更广泛的经济前景和市场竞争加剧的担忧。

The Stanbic Bank Kenya PMI edged higher to 50.6 in February 2025 from a three-month low of 50.5 in the previous month, marking its fifth consecutive month of expansion. Output accelerated for the fifth straight month, growing at the fastest pace since November 2024, primarily driven by a more favorable economic environment that boosted demand. Moreover, new orders increased for the fifth consecutive month, supported by improving cash flows, milder price pressures, and the introduction of new products and services. Additionally, employment rebounded to a four-month high, although the increase remained modest. On the pricing front, input costs continued to soften in February, rising at the slowest pace in four months, primarily attributed to a more moderate increase in purchase prices. Finally, business sentiment for the year ahead dropped to one of its lowest levels on record in February, reflecting concerns over the broader economic outlook and intensifying competition in the market.

肯尼亚的年通货膨胀率从上个月的3.3%上升到2025年2月的五个月高点3.5%。尽管如此，通胀率仍连续第九个月低于央行目标区间的5%中点。这一增长主要是由于食品价格上涨（1月份为6.4%，而1月份为6.1%）。与此同时，交通成本稳定在0.7%，而住房和公用事业成本下降速度较慢（-0.8%对-1.6%）。按月计算，2月份消费者价格指数上涨0.3%，较1月份的0.7%有所回落。核心通胀率（不包括篮子中价格波动较大的商品）在2月份为2%，与上月持平。

Kenya's annual inflation rate rose to a five-month high of 3.5% in February 2025, from 3.3% in the previous month. Still, inflation remained below the 5% midpoint of the central bank’s target range for the ninth consecutive month. The uptick was primarily driven by higher food prices (6.4% vs. 6.1% in January). Meanwhile, transport costs held steady at 0.7%, whereas housing and utility costs fell at a slower pace (-0.8% vs. -1.6%). On a monthly basis, consumer prices increased by 0.3% in February, easing from a 0.7% rise in January. Core inflation, which excludes items whose prices are highly volatile from the basket, stood at 2% in February, unchanged from the prior month.

肯尼亚10年期政府债券收益率降至14.14%的23个月低点。在过去的4周里，肯尼亚10年期债券收益率上升了39.10个基点，在过去的12个月里下降了231.90个基点。

Kenya 10 Year Government Bond Yield decreased to a 23-month low of 14.14%. Over the past 4 weeks, Kenya 10Y Bond Yield gained 39.10 basis points, and in the last 12 months, it decreased 231.90 basis points.

肯尼亚中央银行在2025年2月5日的会议上再次将基准利率下调50个基点至10.75%，这是连续第四次降息。行长Kamau Thugge解释说，货币政策委员会（MPC）决定降低利率，因为在稳定的核心通胀、低能源价格和汇率稳定的支持下，通胀预计将在短期内保持在央行目标区间的5%中点以下。肯尼亚的通货膨胀率连续第八个月低于5%的目标，1月份为3.3%。剔除食品和能源的核心通胀率从12月的2.2%降至2%，表明需求疲软。该行还将现金准备金率下调100个基点至3.25%，以促进降低贷款利率和刺激经济活动。

The Central Bank of Kenya cut its benchmark interest rate by another 50 bps to 10.75% at its meeting on February 5th, 2025, marking the fourth consecutive rate reduction. Governor Kamau Thugge explained that the Monetary Policy Committee (MPC) decided to lower the rate as inflation is expected to stay below the 5% midpoint of the central bank’s target range in the near term, supported by stable core inflation, low energy prices, and exchange rate stability. Kenya’s inflation rate remained comfortably below the 5% target for the eighth consecutive month, registering 3.3% in January. Core inflation, which strips out food and energy, slowed to 2%, from 2.2% in December, suggesting muted demand. The bank also lowered the cash reserve ratio by 100 basis points to 3.25% to promote lower lending rates and stimulate economic activity.