Kenya’s central bank cuts lending rate to spur growth

PUBLISHED: Thu, 30 Jan 2020 15:16:39 GMT

Central Bank of Kenya’s Monetary Policy Committee (MPC) has lowered the Central Bank Rate from 8.50 to 8.25 two months later after it was reduced from 9.0 per cent. Moreover, SBM Bank Kenya Limited has filed a petition to liquidate East African Cables after the company defaulted on a $2.82 million loan. Rodney Omukhulu, Assistant Investments Analyst at Cytonn joins CNBC Africa for more.

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