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Central bank cuts base lending rate to 8.5 from 9 per cent

CBK Governor Patrick Njoroge

The central bank has cut the base lending rate to 8.5 per cent from the previous 9 per cent

The bank’s Monetary Policy Committee (MPC) welcomed repeal of the interest rates caps on commercial bank loans. In a statement, the MPC noted that the move has led to a significant rationing of credit.

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