The Central Bank of Kenya (CBK) held its bi-monthly policy meeting on Tuesday and lowered the Central Bank Rate (CBR) further to 9.75 percent from 10 percent, piling pressure on commercial banks to lower borrowing costs for customers and grow private sector credit growth.
The CBK has now lowered the CBR at all its six last policy committee meetings, highlighting the need to stimulate loan growth to businesses and households amid stable consumer prices and reduced volatility on the foreign exchange rate.
