The Central Bank of Kenya (CBK) has cut the benchmark lending rate for the third time this year to the lowest level in 12 months but warned that banks are not passing the full benefits to consumers.
The regulator’s monetary policy committee (MPC) on Thursday cut the central bank rate (CBR) to 11.25 percent from 12 percent that has been in place since August 8 this year in bid to revive the pace of private sector credit growth from near zero.
