Kenyans are set to continue accessing cheaper loans for the next two months following the Central Bank of Kenya's (CBK) decision to lower the base lending rate for the fifth successive time since August last year.
CBK, in its latest Monetary Policy Committee (MPC) report published on Tuesday, April 8, announced that it had reduced the base lending rate by 75 basis points to 10.00 per cent from 10.75 per cent.
According to CBK Governor Kamau Thugge, the decision to lower interest rates was to stimulate lending by banks to the private sector and support economic activity while ensuring exchange rate stability. While making the announcement, Thugge noted that global growth was on a steady recovery from 2024, supported by strong growth in the United States and the large emerging market economies, particularly India.
Central Bank of Kenya Governor Kamau appearing before the National Assembly Finance and National Planning Committee on Tuesday, March 25, 2025.
