NAIROBI (Reuters) - Kenya's central bank cut its benchmark lending rate by a bigger-than-expected margin to 9.5 percent from 11 percent in an effort to raise the level of lending to the private sector, the bank said on Thursday.
A Reuters poll of 11 analysts had forecast that the bank would cut the rate by a median one percentage point to 10 percent as the bank seeks to boost lending and support economic growth.
The bank has so far cut 850 basis points off the lending rate since it embarked an an easy cycle in July.
"The Committee concluded that there was a positive outlook on the economy including stability in both the product and foreign exchange markets reflected in stable inflation and the exchange rate," the bank's Monetary Policy Committee said in a statement.
It added that the move to cut rates was also aimed at re-aligning interest rates in east Africa's largest economy.
Analysts said that given the country's economic fundamentals remained positive, the MPC felt there was room to provide another push to economic growth.
"Given how high real interest rates are in Kenya, and given our expectation of relatively well-behaved single digit inflation for some time, there was ample room for policy easing of this magnitude," said Razia Khan, head of research for Africa at Standard Chartered Bank.
Source: http://news.yahoo.com/kenya-cuts-key-lending-rate-150-bps-9-125504752--business.html
Miguel Calero Bret Bielema blake shelton sons of anarchy adriana lima victoria secret fashion show SEC Championship
কোন মন্তব্য নেই:
একটি মন্তব্য পোস্ট করুন