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The Central Bank’s rate-setting committee has spared borrowers a hike in interest on loans for the ninth month straight.
The regulator’s decision-making organ, the Monetary Policy Committee (MPC), yesterday left the base lending rate unchanged at nine per cent despite a further decline in credit to the private sector. The committee said there was a further decline in private sector credit at the beginning of the year to 3.0 per cent in January from an average growth of 3.4 per cent in the 12 months to February.
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