Central Banks
Kenya Delivers Half-Point Rate Cut to Boost Economic Growth
- Benchmark interest rate lowered to 10.75% from 11.25%
- MPC expects inflation to remain below the 5% in near term
Nairobi, Kenya.
Photographer: Patrick Meinhardt/BloombergThis article is for subscribers only.
Kenya’s central bank cut the benchmark interest rate to an almost two-year low as benign inflation allowed it to prop up its stuttering economy.
The monetary policy committee lowered the key rate to 10.75% from 11.25%, Governor Kamau Thugge said in an emailed statement Wednesday. That matched the median estimate of seven economists in a Bloomberg survey.