Kenya paves way for recovery with loosening
The Central Bank of Kenya sought to provide succour for its flagging economy on Wednesday with a raft of measures designed to encourage lending.
The central bank cut its benchmark bank rate by 25 basis points and also chopped a half point off the cash reserve ratio to 4.5%. It is the first time that the central bank has cut the reserve ratio since December 2008 though bank rate has been cut by 125 basis points since then. The central bank also extended the maturity limit on repo transactions
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