Kenya's Central Bank keeps interest rates unchanged
269 views · Published 18 November 2015 · 5:33 · Indexed 8 November 2026
Channel: CGTN Africa · 2015 · News & Politics
Kenya's Central Bank held its benchmark lending rate at 11.50% noting that the exchange rate had stabilized and current account deficit had narrowed. It raised the lending rate by 300 basis points earlier this year in part to support the weakening shilling. The currency had plunged by almost 18% to the dollar following global strengthening of the green back and slowdown in revenues from key sectors such as tourism. The bank's Monetary Policy Committee specifically stated that lower oil prices and a slowdown in consumer demand had helped narrow the currency account deficit.
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