Central bank holds key lending rate at seven per cent

CBK Governor Patrick Njoroge

The central bank held its benchmark lending rate at 7.0 per cent for the third time in a row on Wednesday, saying its current easing stance was having the desired effect.

Like other central banks around the world, policymakers in the East African nation adopted a range of easing measures at the onset of the coronavirus crisis in March and April, to try to limit the damage to the economy.