CBK cuts key lending rate, defies banks' calls for sharper cuts

Monetary Policy Committee cuts Central Bank lending rate to 9.25 per cent from 9.5 per cent, cites resilient Kenyan economy..

✨ Key Highlights

The Central Bank of Kenya (CBK) has reduced its benchmark lending rate, opting for a smaller cut than requested by commercial banks. This decision highlights a growing disagreement over borrowing costs amidst slowing economic growth in Kenya.

The CBK delivered a smaller reduction in its key lending rate.
Commercial banks had sought sharper cuts to stimulate credit growth.
The move signals a "tussle over the cost of borrowing" in a slowing economy.

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