Kenya Central Bank holds key lending rate at 8.75 percent
The Central Bank of Kenya kept its benchmark lending rate at 8.75 percent on Tuesday as inflation approaches the top of the government target range. Officials also lowered the annual economic growth forecast to 4.9 percent from 5.3 percent.
The Central Bank of Kenya maintained its benchmark lending rate at 8.75% on Tuesday. The decision matched the expectations of economists polled by Reuters who predicted a hold for the second consecutive policy meeting. The move follows sharp rises in inflation during April and May driven by global energy costs.
