Browsing: Monetary Policy Committee(MPC)

CBK Raises Base Lending Rate To 8.25 Pc, Cites Elevated Inflation www.theexchange.africa

The Kenyan economy’s leading indices of economic activity show ongoing solid growth in the second quarter of 2022, according to CBK, with strong activity in storage and transport, retail and wholesale trade, construction, information and communication, and lodging and food services.

“Despite decreased agricultural performance and sluggish global growth, the economy is anticipated to remain resilient throughout the balance of 2022,” CBK added.

Goods exports have been strong, increasing by 11.0 per cent in the year to August 2022 compared to the same time in 2021.…

Central Bank of Kenya’s Monetary Policy Committee has lowered the Central Bank Rate to 8.50 per cent from 9.00 per cent, despite the removal of interest rate capping in the country.

Central Bank of Kenya’s Monetary Policy Committee has lowered the Central Bank Rate for loans to 8.50 per cent from 9.00 per cent, despite the removal of interest rate capping in the country.

READ ALSO:Why Kenya’s Central Bank has retained base lending rate at 9%

The MPC met on November 25, 2019, to review the outcome of its previous policy decisions and recent economic developments.

The meeting came at the backdrop of a domestic macroeconomic stability, the recent repeal of interest rate caps, and heightened global uncertainties and volatility in international markets.

READ:No more lending controls in Kenya as rate cap ‘dies’

READ ALSO:World Bank, IMF biggest winners in Kenya’s interest rates cap repeal

The MPS which is chaired by CBK governor Patrick Njoroge however noted that month-on-month overall inflation remained well anchored within the target range in September and October 2019, largely due to relatively stable …