Browsing: The Monetary Policy Committee

The Central Bank of Kenya (CBK) increased the basic lending rate from 7.5% to 8.25% due to persistent inflationary pressures and increased global threats.
The top bank stated that it chose to increase the rate to curb the economy’s spiralling inflation.

The increase of 75 basis points for Kenyan borrowers means increased borrowing costs. The measure is also consistent with most analysts’ projections that the MPC would take action to reduce the inflation rate.

  • The Central Bank of Kenya (CBK) increased the basic lending rate from 7.5% to 8.25% due to persistent inflationary pressures and increased global threats
  • The increase of 75 basis points for Kenyan borrowers means increased borrowing costs.
  • Despite decreased agricultural performance and sluggish global growth, the economy is anticipated to remain resilient throughout the balance of 2022

The Monetary Policy Committee (MPC) met on September 29, 2022, against significant international uncertainties, volatile financial markets, a weaker …