CBK cuts key rate to spur festive season lending

The Central Bank of Kenya (CBK) has cut its benchmark lending rate in a move aimed at stimulating credit to businesses and households ahead of the crucial Christmas spending period later this month, while betting that inflation will remain subdued.

The Monetary Policy Committee (MPC) lowered the Central Bank Rate (CBR) by 25 basis points to 9.00 per cent from 9.25 per cent at its last meeting of the year, marking a continuation of its easing cycle designed to support economic growth.

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activeEl.innerHTML = “”;
paywallEl.style.display = “block”;

} else if (now >= saleStart && now <= saleEnd) {
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var diffToEnd = saleEnd – now;
var totalSeconds = Math.floor(diffToEnd / 1000);
var days = Math.floor(totalSeconds / (24 * 3600));
var hours = Math.floor((totalSeconds % (24 * 3600)) / 3600);
var minutes = Math.floor((totalSeconds % 3600) / 60);
var seconds = totalSeconds % 60;

activeEl.innerHTML = `

Offer ends in…

${days}Days
${String(hours).padStart(2,’0′)}Hours
${String(minutes).padStart(2,’0′)}Minutes
${String(seconds).padStart(2,’0′)}Seconds

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totalSeconds %= 3600 * 24;
const hours = Math.floor(totalSeconds / 3600);
totalSeconds %= 3600;
const minutes = Math.floor(totalSeconds / 60);
const seconds = totalSeconds % 60;
return `${days}d ${hours}h ${minutes}m ${seconds}s`;
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The Central Bank of Kenya (CBK) has cut its benchmark lending rate in a move aimed at stimulating credit to businesses and households ahead of the crucial Christmas spending period later this month, while betting that inflation will remain subdued.

Follow The Standard
channel
on WhatsApp