Kenya Central Bank Holds Key Rate at 8.75 Percent
The Central Bank of Kenya kept its benchmark lending rate at 8.75 percent to anchor inflation expectations as fuel costs rise. Policymakers lowered the annual economic growth forecast to 4.9 percent while monitoring global oil price volatility.
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The Central Bank of Kenya kept its benchmark lending rate unchanged at 8.75% on Tuesday. This decision matches expectations from a Reuters poll of economists and marks the second consecutive policy hold. The move aims to anchor inflation expectations near the 7.5% ceiling while the bank manages a downgraded 4.9% economic growth forecast.
