The Central Bank of Kenya (CBK) has cut the benchmark interest rate by the largest margin since the start of Covid-19 economic hardships in March 2020, signalling relief for borrowers saddled with costly loans and reversing a slowdown in demand for credit.
The CBK Monetary Policy Committee Tuesday cut the key lending rate by 0.75 percent, or 75 basis points, from 12.75 percent to 12 percent, after inflation fell to its lowest level in more than a decade.
