For the first time in four years, the Central Bank of Kenya (CBK) has lowered its policy lending rate, handing borrowers a reprieve in loan-servicing costs after years of heightened rates in efforts to contain inflation and shilling depreciation.
The apex bank on Tuesday cut its policy rate by 25 basis points to 12.75 percent from 13 percent, noting inflation has fallen to comfortable levels, growth remained resilient, and global macroeconomic conditions have improved.
