The Central Bank of Kenya (CBK) has cut the benchmark interest rate by 50 basis points to 10.75 per cent.
This marks the fourth consecutive rate cut. "Lower the Central Bank Rate (CBR) by 50 basis points to 10.75 percent from 11.25Percent," Governor Kamau Thugge said in a statement.
The rate cut followed a Monetary Policy Committee (MPC) meeting on Wednesday, February 5.
The MPC decided to lower the rate as inflation is expected to remain below the 5 per cent midpoint of the Central Bank's target range in the near term, "supported by a low and stable core inflation, low energy price inflation, and exchange rate stability," CBK noted.
