Kenya central bank slashes rates as others hold ahead of ECB decision

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The Central Bank of Kenya on September 5 slashed its benchmark interest rate by 350 basis points to 13%, citing continued declines in inflation, stable exchange rates and a strong banking sector. But central banks in Australia, Canada, Israel, Thailand and Poland all kept rates on hold.

The Central Bank of Kenya highlighted steadily declining inflation as an important reason behind its decision to cut rates, saying in a statement that inflation fell to 6.1% in August, within the 7.5% maximum

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