Kenya’s central bank reduced its benchmark lending rate by 25 basis points to 9.0% on Tuesday, saying there was scope for further easing to stimulate lending by banks to the private sector.
It was the bank’s ninth rate cut in a row.
“This will augment the previous policy actions aimed at … supporting economic activity, while ensuring inflationary expectations remain firmly anchored, and the exchange rate remains stable,” the Central Bank of Kenya said in a statement.
Kenya’s inflation was at 4.5% year-on-year in November, slightly lower than the previous month’s reading of 4.6% and within the 2.5%-7.5% target band.
Source:
Reuters
