Kenya: CBK Maintains Lending Rate at 8.75 per cent Amid Pressure from Banks

The Central Bank of Kenya (CBK) has retained its benchmark lending rate at 8.75 per cent in what will be a slight relief for borrowers across the country. 

In a statement issued after the June 9 meeting, the Monetary Policy Committee (MPC) said the current monetary policy stance remains appropriate despite growing risks to the global and domestic economic outlook.

“The Monetary Policy Committee (MPC) decided to maintain the Central Bank Rate (CBR) at 8.75 percent, during its meeting held on…