Kenya: CBK Cuts Lending Rate to 9pc to Spur Credit Uptake

Nairobi — The Central Bank of Kenya (CBK) has cut its benchmark lending rate by 25 basis points to 9 percent, marking its second consecutive move to ease borrowing costs as the economy shows signs of stabilising.

The Monetary Policy Committee (MPC) said the adjustment was informed by easing inflation, improving private-sector credit uptake and a stable exchange rate.

“The Committee concluded that there was scope for a further easing of the monetary policy stance by reducing the CBR by 25 basis…