The maximum cost of loans remains unchanged after the Central Bank of Kenya (CBK) Monday retained the base lending rate for the eighth time in a row. The Monetary Policy Committee (MPC) maintained the benchmark rate at 10 per cent, saying the current monetary policy stance had reduced the threat of money-driven inflation.
MPC chairman and CBK governor Patrick Njoroge cited a relatively stable forex market, a narrower current account deficit and exchange reserves that continue to cushion the economy from unforeseen shocks in holding the base rate.
