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Kenya’s central bank cuts key rate to 9.75% in surprise move

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Herald Aloo

Herald Aloo, a journalist based in Nairobi, covers Kenya's economy, focusing on banking, and energy.
  • CBK’s sixth rate cut in a year follows improved inflation and currency stability
  • Private sector credit picks up but banks still favour government debt

Nairobi, Kenya – The Central Bank of Kenya (CBK) lowered its benchmark lending rate by 25 basis points to 9.75% on Thursday, defying market expectations for a hold and extending its monetary easing cycle for the sixth time in under a year. Cumulative rate cuts now total 3% since August 2024.

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