The Central Bank of Kenya (CBK) cut its benchmark lending rate by 50 basis points to 10.75 percent on Wednesday, aiming to stimulate economic growth.
January 2025 CRB stood at 11.25.
CBK’s Monetary Policy Committee (MPC) said the move was aimed ar stabilizing inflation supported by low and stable core inflation, lower energy prices, and exchange rate stability.
“Central banks in major economies have continued to lower their interest rates, but at different paces,” said MPC in a statement.
The central bank also cut banks’ Cash Reserve Ratio by 100 basis points to 3.25% to support a lowering of lending rates.
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