Central Bank cuts base lending rate to 9 percent for ninth consecutive time

The monetary policy committee of the central bank, has for the 9th consecutive time, cut the base lending rate from 9.25 percent to 9 percent, signaling further monetary easing in the Kenyan market. The committee which sat for the final time this year, resolved to cut the base lending rate by 25 basis points, bringing the cumulative rate cut to 400 basis points, the highest interest rate cut in Kenya's history