• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Editor's Pick

Kenya central bank cuts main lending rate to 12%

by October 8, 2024
written by October 8, 2024

NAIROBI (Reuters) -Kenya’s central bank cut its benchmark lending rate to 12.00% on Tuesday, from 12.75%, the bank’s monetary policy committee (MPC) said, adding that the move was aimed at boosting credit to the private sector.

In August, the bank cut the rate by 25 basis points, the first in about four years.

Last week, Finance Minister John Mbadi said the central bank rate should start lowering its lending rate due to falling inflation in recent months.

Ahead of the rate decision, umbrella Kenya Bankers’ Association said in a research note on Oct.3 that there was room for the bank “to effect a decisive policy rate cut” to support stronger economic growth by pushing for a recovery in growth of private sector credit.

“The MPC … noted the sharp deceleration in credit to the private sector, and the slowdown in growth in the second quarter of 2024, and concluded that there was scope for a further easing of the monetary policy,” the bank said in a statement.

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
Hindenburg Research takes short position in Roblox
next post
Lula nominee to head Brazil central bank emphasizes freedom in decision making

You may also like

China central bank conducts 1.7 trln yuan of...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

ECB president fears loss of central bank independence

January 27, 2025

European tech shares tumble as China’s AI push...

January 27, 2025

Futures slip as investors eye China’s latest AI...

January 27, 2025

Markets may be repeating the mistake of 2019,...

January 27, 2025

How billionaire Caltagirone could influence Italy’s banking M&A...

January 27, 2025

How Italy’s MPS went from near collapse to...

January 27, 2025

Analysis-To weather Trump, emerging market investors look to...

January 27, 2025

Chinese AI startup DeepSeek overtakes ChatGPT on Apple...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks

      June 26, 2025
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

      June 26, 2025
    • Bumble shares jump 26% as dating company plans to axe 30% of workforce

      June 26, 2025
    • Small-business AI use is lagging, but one firm is channeling Sherlock Holmes and knocking out ‘grunt work’

      June 25, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (534)
    • Stock (6,426)

    Latest News

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

    Popular News

    • Greece to buy artillery systems from Israel and drones from US, officials say
    • Synopsys’ $35 billion Ansys acquisition set for EU approval, Reuters reports

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy