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Kenya Cuts Rates After Scrapping Loan-Price Cap to Boost Growth

  • Rate lowered to 8.5% from 9%; first cut in 16 months
  • Economic expansion seen accelerating in second half of year
Looming Fuel VAT In Kenya To Hit Consumers Hardest
Photographer: Luis Tato/Bloomberg
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Kenya’s central bank cut its benchmark interest rate for the first time in 16 months as the removal of a cap on borrowing costs will make it easier for policy decisions to flow to help boost credit and economic growth.