The Monetary Policy Committee (MPC) has for the third time in a row retained the base lending rate at seven per cent, citing the impact of the Covid-19 pandemic on the economy.
Kenya
Kenya's central bank lowered its policy rate for the third time this year due to what it said was a "continuing adverse economic outlook," adding it is closely monitoring the impact of its recent policy measures and is "ready to take additional measures as necessary."
Kenya's central bank cut its key interest rate for the third time in a row to minimize the economic and financial impact from the spread of the coronavirus, and lowered its reserve requirement to release 35.3 billion shilling as additional liquidity for banks to directly support borrowers that are under distress from the virus.
The Central Bank of Kenya (CBK) has announced the rollout of a mobile-based service designed to facilitate investment in government securities dubbed CBK-TMD.
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