Central Bank of Kenya holds benchmark lending rate at 10 percent again

Patrick Ngugi, CBK governor

Credit cost. Central Bank of Kenya (CBK) on Monday maintained the benchmark rate at 10 per cent for the 12th straight month.

The move came amid suggestions that the cap on interest rates may be repealed. Bank Governor Patrick Njoroge, who chairs the Monetary Policy Committee, said the move was informed by easing inflation, a stable foreign exchange market and a resilient banking sector.