Kenya’s Central Bank Cuts Base Rate Again to Boost Lending

• CBK lowers benchmark lending rate to 11.25%, third cut this year
• Commercial banks criticised for not reducing borrowing costs proportionately

Nairobi, Kenya – Kenya’s Central Bank (CBK) has reduced its benchmark lending rate for the third consecutive time this year, signalling a push for cheaper credit amid slowing economic growth. The Monetary Policy Committee (MPC) cut the central bank rate (CBR) by 75 basis points to 11.25% from 12%, the lowest level in a year.