- CBK reduces benchmark interest rate by 25 basis points, bringing it to 12.75%
- Decision influenced by easing inflation and a stronger local currency
Nairobi, Kenya – The Central Bank of Kenya (CBK) surprised markets by cutting the benchmark interest rate by 25 basis points, marking the first reduction in four years. The rate cut, which brings the central bank rate (CBR) down to 12.75% from 13%, comes in response to easing inflation and a strengthening local currency, as announced after Tuesday’s monetary policy committee (MPC) meeting. The rate had remained unchanged since February, when inflation peaked.
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