Why CBK has cut key rate ahead of festive season

CBK has cut its benchmark lending rate in a move aimed at stimulating credit to businesses and households ahead of the crucial Christmas spending...

✨ Key Highlights

The Central Bank of Kenya (CBK) has reduced its benchmark lending rate ahead of the festive season to stimulate credit growth and support the economy. This decision was made during the Monetary Policy Committee (MPC) meeting.

The CBK cut its Central Bank Rate (CBR) by 25 basis points to 9.00 per cent from 9.25 per cent.
Dr. Kamau Thugge, CBK Governor, was involved in this decision and previously addressed the National Assembly's Committee on Finance and National Planning.
The rate cut aims to encourage lending to businesses and households before the crucial Christmas spending period.

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