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CBK retains base lending rate at 7 per cent

CBK Governor Patrick Njoroge.

The Central Bank of Kenya (CBK) retained the base lending rate at seven per cent for nine consecutive months on the back of gradual economic recovery from the coronavirus pandemic.

In a statement on Wednesday, CBK’s Monetary Policy Committee (MPC) said policy initiatives introduced at the onset of the pandemic have had the intended effect on the economy.

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