Central Bank of Kenya in Nairobi. The Monetary Policy Committee (MPC) has reduced the indicative Central Bank Rate for the first time this year signalling a cut on cost of loans as it seeks to spur economic growth. file
The Monetary Policy Committee (MPC) has reduced the indicative Central Bank Rate for the first time this year signalling a cut on cost of loans.
The committee reduced the rate at which it lends to commercial banks to 8.5 per cent from 9.5 per cent which has prevailed since January.
In making the decision the policy maker is banking on the peaceful election and transition of power for enhanced economic activity which needs to be supported by easy access to finance.
“The Committee concluded that the monetary policy measures continue to deliver the desired results, providing policy space to encourage the private sector to fulfil its growth augmentation role,” said the MPC
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