Kenya debt yields steady as investors gain confidence

NAIROBI: Kenya central bank governor said on Tuesday that investors were confident that the government was "on top of its borrowing plan" and this was helping stabilise yields on government securities.

"In that sense there is much more credibility in terms of interest rates remaining where they are," Governor Patrick Njoroge told a senate committee after yields on Treasury bills tumbled last week after climbing well above 20 percent.

The government has forecast a budget deficit equivalent to 8.7 percent of gross domestic product in fiscal 2015/16, which runs until June 30.