Should we celebrate falling interest rates

Central Bank of Kenya’s monetary policy committee (MPC) has cut the interest rates in the last 10 meetings. [File, Standard]

The Central Bank of Kenya’s (CBK) monetary policy committee (MPC) has cut the interest rates in the last 10 meetings. Its latest rate is now 8.75 per cent. Why does this matter? 

It’s expected that with low rates, banks will take the cue and lower their lending rates. We shall borrow more money to invest or consume.