CBK ends rate hikes as inflation slows
Click here to read full article from source
Nairobi, Jan. 30 -- The Central Bank of Kenya (CBK) on Monday retained the base lending rate at 8.75 percent on the back of slowing inflation.
The bank's Monetary Policy Committee (MPC), the top-decision-making organ, held the benchmark rate saying the impact of the tightening monetary policy in November to rein on inflation is taking shape.
The hold is likely to spare consumers any further hikes on bank loans and reduce the government's cost of local borrowing.
"The (Monetary Policy) Committee noted that the impact of the further tightening of monetary policy in November 2022 to anchor inflationary pressures were still transitioning in the economy," the CBK said in a statement.
"Additionally, the MPC noted that this action will be co...
To read the full article or to get the complete feed from this publication, please Contact Us