CBK retains 7pc lending rate as indicators point to robust performance

NAIROBI, Kenya, Nov 27 – Central Bank of Kenya has maintained its benchmark lending rate at 7.00 percent, the twelfth time in a row noting that the current accommodative monetary policy stance remains appropriate.

CBK’s Monetary Policy Committee through a statement on Wednesday said that inflation expectations remain anchored within the target range and that leading economic indicators showed continued robust performance.

“The MPC also noted the elevated global risks, and their potential impact on the domestic economy. The Committee concluded that the current accommodative monetary policy stance remains appropriate, and therefore decided to retain the Central Bank Rate (CBR) at 7.00 percent,” read MPC statement.

More to follow…