Cost of credit expected to reduce marginally

Written By: Stanley Wabomba
255

CBK Governor Dr. Patrick Njoroge

The cost of credit is expected to marginally reduce after policymakers of the central bank on Monday lowered the benchmark lending rate by 25 basis points to 8.25 percent.

KBC Radio_KICD Timetable

In reaching the decision, the policymakers noted that even though inflationary expectations are well anchored within the target range, the economy is operating below its potential level.

Also Read  Over 60 families in Laikipia County benefit from free modern housing

Central bank governor Dr. Patrick Njoroge who chairs the Monetary Policy Committee says there was room for further accommodative monetary policy to support economic activity hence policymakers’ decision to lower the central bank rate from 8.50 percent to 8.25 percent.

Also Read  CS Munya calls for forensic audit of KTDA and subsidiaries

Dr. Njoroge says the central bank will closely monitor the impact of the lower benchmark lending rate.

Get breaking news on your Mobile as-it-happens. SMS ‘NEWS’ to 20153
KBC-You-tube-728x90-New-2

Tell Us What You Think


SHARE