CBK predicts 6.2pc growth as rate eases

Central Bank of Kenya Governor Patrick Njoroge addresses the post-Monetary Policy Committee meeting press briefing in his office yesterday. [David Gichuru, Standard]

The Central Bank of Kenya (CBK) has forecast significant growth in the economy and lending to the private sector this year in the wake of the scrapping of the interest rate cap.

CBK Governor Patrick Njoroge yesterday predicted a Gross Domestic Product (GDP) growth of 6.2 per cent, up from 5.7 per cent last year, also backed by a recovery in agriculture and medium and small businesses.