Central Bank of Kenya retains benchmark rate at 10pc

Central Bank of Kenya Governor Patrick Njoroge. (Photo: David Njaaga, Standard)

The Central Bank of Kenya (CBK) has retained the benchmark lending rate at 10 per cent despite a rise in the cost of living.

Through its Monitory Policy Committee (MPC), CBK Monday opted to hold the Central Bank Rate (CBR) at 10 per cent against the backdrop of improved weather conditions, expectations of lower food prices and general macro-economic stability.