Kenyan interest rate continues to plummet


The Central Bank of Kenya Monetary Policy Committee slashed its benchmark interest rate by 150 basis points to 9.5% in its January 10 meeting, capping a 700bp cut in four months.

A statement by the committee said Kenya's monthly inflation rate fell from 3.25% to 3.2% in December, while improved weather conditions and declining international oil prices support its low and stable short-term outlook for inflation.

There was also a "notable recovery" in the Kenya economy in the third quarter of 2012

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