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Browsing: Kenya’s banking rate
The Central Bank of Kenya (CBK) has retained the base lending rate in the country at 8.75 per cent, citing easing inflationary pressure and positive macroeconomics outlook.
CBK’s decision making organ – Monetary Policy Committee (MPC) met on Monday against a backdrop of a weak global growth outlook, decline in global commodity prices, easing inflationary pressures, geopolitical tensions, persistent uncertainties, and measures taken by authorities around the world in response to these developments.
This includes the back-to-back fed rate hikes witnessed in the US as the country navigated high inflation which hit a peak last year.
Kenya’s overall inflation decreased to 9.1 per cent in December 2022 from 9.5 per cent in November, mainly due to lower food prices.
Food inflation declined to 13.8 per cent in December from 15.4 per cent in November, largely driven by a decrease in prices of maize and milk products.
This is pegged on …