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Central Bank of Kenya Governor Njuguna Ndung’u chaired his last Monetary Policy Committee (MPC) meeting on Thursday, keeping the base lending rate unchanged at 8.5 per cent. This is the rate at which the Central Bank lends to commercial banks.
The MPC concluded that the monetary policy measures, coupled with the favourable impact of lower international oil prices continued to support price stability. It however warned that divergent monetary policy paths taken by the major advanced economies may cause volatility in the global foreign exchange markets.
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