The Central Bank of Kenya (CBK) has doubled down on its efforts to bring down high interest rates on commercial bank loans by implementing a triple cut on its key benchmark lending rate, the interbank interest rate corridor and the penalty charged to banks for accessing its emergency borrowing window.
The CBK's monetary policy committee has cut the central bank rate (CBR) to its lowest level in almost two years, reducing the benchmark from 10.75 percent to 10 percent, signalling its expectation of lower domestic interest rates as it pushes for private sector credit growth.
