Kenya’s central bank reduced its benchmark lending rate to 9.75% from 10.00% on Tuesday, marking the sixth consecutive cut by the Monetary Policy Committee.
The bank stated there was “scope for a further easing of the monetary policy stance to augment the previous policy actions aimed at stimulating lending by banks to the private sector and supporting economic activity.”
Economists polled by Reuters had been divided on the decision, with forecasts split between a cut, no change, or a hike.