CBK holds key lending rate at 8.5 pct
16 January 2015, 08:36
Nairobi - The Central Bank of Kenya held its key lending rate at 8.50 percent on Wednesday, saying this would ensure inflation continued to fall towards a 5 percent target.
The decision was in line with forecasts by 12 analysts polled by Reuters.
The CBK's Monetary Policy Committee also said it was cutting the reference rate, which banks use as a base rate for calculating commercial lending, to 8.54 percent from 9.13 set in July. The rate is set each six months.
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