LIVE | Monetary Policy Committee Meeting | October 9, 2024
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The Central Bank of Kenya (CBK) has cut the benchmark lending rate by 0.75% to 12%, as expected, to support economic activity.
The rate cut implies commercial banks will cut their prime lending rates going forward and this will stimulate demand for private sector credit, increase aggregate demand, and also boost economic growth.
The decision, delivered by the Monetary Policy Committee (MPC), was fueled by the easing inflation coupled with the slowdown in private sector growth in the Q2 2024.
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