Kenya cuts benchmark rate to 10%
Central bank says easing necessary to boost lending to private sector and stimulate growth
The Central Bank of Kenya yesterday (April 8) cut its benchmark rate by 75 basis points to 10%.
In a statement, the bank said the decision was necessary “to stimulate lending by banks to the private sector and support economic activity”.
The monetary policy committee (MPC) also narrowed the interest rate corridor around its benchmark central bank rate from +/-150bp to +/-75bp. The bank said it had taken this decision to stabilise interbank rates and make them more closely aligned with the
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