Kenya’s Rotich Says Very Little to No Room for Further Rate Cuts
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Kenya may not have any room left to cut interest rates further this year as the inflation outlook for East Africa’s biggest economy detoriorates, Treasury Secretary Henry Rotich said.
The Monetary Policy Committee, led by central bank Governor Njuguna Ndung’u, will review the benchmark interest rate again in September and November, after leaving it unchanged at 8.5 percent this month. Kenya has cut the rate by 9.5 percentage points since the easing cycle began last year.