(RTTNews) - Tuesday, Kenya’s central bank, in its latest monetary policy meeting, lowered the key interest rate by 75 basis points to 7%, in order to support the economic recovery.

The central bank said the banking sector was stable and credit risk was declining. Moreover, the inflationary pressures remained low. The bank said government’s stimulus measures had helped in the economy recovery by creating employment and increasing consumer spending. However, it noted there was a need to improve credit availability. In order to achieve this objective and to provide guidance on the path of the monetary policy over the next two months, the committee lowered the interest rate by 75 basis points, the central bank said.

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Posted in Categories: Economy, Releases.

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