Thursday, January 27, 2011

Central Bank of Kenya Cut Rate 25bps to 5.75%

The Central Bank of Kenya cut its central bank rate 25 basis points to 5.75% from 6.0%, in effort to spur economic growth given relatively low inflation risks (the Kenyan economy grew 6.1% in Q3 2010). The Bank's Monetary Policy Committee noted that headline inflation was 4.5% in December, which is below the 5% official inflation target; the bank also noted it sees little upside inflation risk in 2011.


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