Kenya: Central Bank Makes Successive Interest Rate Cuts After Significant Drop in Inflation

Kenyans are poised to access cheaper loans for the next two months after the Central Bank of Kenya’s Monetary Policy Committee (MPC) lowered the base lending rate for the third successive time this year.

CBK in its report on Thursday, December 5, lowered the base lending rate by 75 basis points from 12 per cent to 11.25 per cent, pointing to lower interest rates by commercial banks.

Central Bank Governor Kamau Thugge attributed the decision to cut the base lending rates to stable inflation…