Kenya Slashes Benchmark Rate to 9 Percent in Ninth Consecutive Cut

Kenya’s central bank cut its benchmark interest rate by 25 basis points to 9.0%, extending an easing cycle aimed at lifting bank lending and supporting economic growth.

The move marks the ninth consecutive rate cut as policymakers seek to reinforce earlier measures while keeping inflation expectations contained and the exchange rate stable, the Central Bank of Kenya said in a statement.

The economy continues to expand at about 5% a year. The bank kept its growth forecasts unchanged at 5.2% for…