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CBK Governor Kamau Thugge/COURTESY

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CBK cuts lending rate to 11.25% to boost economy

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NAIROBI, Kenya, Dec 5 – The Central Bank of Kenya (CBK) has reduced its base lending rate by 0.75 percentage points to 11.25 percent, aiming to stimulate economic activity amidst stable inflation and exchange rate conditions.

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CBK Governor Kamau Thugge cited a slowdown in economic growth during the first half of 2024 as a key reason for easing monetary policy.

The move is expected to encourage commercial banks to lower lending rates, boosting credit access for the private sector.

The Monetary Policy Committee (MPC) will monitor the impact of this measure and reconvene in February 2025 to assess further actions.

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