The Central Bank of Kenya (CBK) has retained its base lending rate at 10 per cent.
According to the Monetary Policy Committee (MPC), there was no need to increase the Central Bank Rate (CBR) since inflation will stay within the preferred range of between 2.5 per cent and 7.5 per cent.
As a result, the 10.0 point rate will see loans offered by banks remain capped at 14 per cent. “The MPC therefore decided to retain the Central Bank Rate (CBR) at 10.0 percent in order to anchor inflation expectations,” CBK said in a statement.
