Central Bank of Kenya cuts rates despite new credit legislation
Commercial banks to amend lending rates again following a cut in interest rates
Commercial banks in Kenya will have to cut lending rates by a further half a percentage point after the Bank of Kenya lowered interest rates on September 20.
In the second reduction in four months, the bank's monetary policy meeting voted to reduce interest rates by half a percentage point to 10%, in an attempt to encourage credit growth.
"The MPC noted the continued decline in growth of private sector credit which has persisted since the last meeting, posing a risk to economic growth," said
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com test test test
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com test test test
More on Monetary policy decisions
BSP eases policy and indicates further cuts will be limited
Governor says decision will boost Philippines’ economy amid ‘painful’ governance issues
Canada holds rates as concerns over investor confidence remain
Governor says country is undergoing difficult structural change
Australia holds, flags possible rate hikes next year
RBA keeps policy steady amid heightened inflation while governor says no cuts for foreseeable future
India cuts rates amid strong growth and low inflation
Malhotra says growth was at six-quarter high earlier this year as RBI eases by 25bp
South Korea holds policy as expected
Economists expect decision to mark end of easing cycle
RBNZ’s 25bp cut marks end of easing cycle, say economists
Bank says economic activity picked up after policy fell to lowest point in more than three years
Nigeria holds rates at 27% despite easing inflation
Governor says exit from FATF grey list and outlook upgrade will boost capital inflows
South Africa cuts by 25bp, citing lower prices ahead
Sarb brings policy rate to 6.75% in first decision since government lowered inflation target