Kenya’s central bank will maintain its main lending rate at 9%

Kenya’s Central Bank is maintaining its lending rate at 9 per cent for the fifth time, according to its Monetary Policy Committee.

Meanwhile, to check inflation, the prices of food, utilities, and fuel will be monitored closely.

Cost had already pushed inflation from 4.35% to 6.58% year-on-year, the highest since the government agreed to maintain it between 2.5% to 7.5%.

The finance ministry predicts that the economy will grow at 6.1% rate this year, slightly slower than the 6.3% in 2018.

Kenya’s Central Bank is maintaining its lending rate at 9 per cent for the fifth time, according to its Monetary Policy Committee.

Meanwhile, to check inflation, the prices of food, utilities, and fuel will be monitored closely.

Cost had already pushed inflation from 4.35% to 6.58% year-on-year, the highest since the government agreed to maintain it between 2.5% to 7.5%.

The finance ministry predicts that the economy will grow at 6.1% rate this year, slightly slower than the 6.3% in 2018.