Kenya central bank to hold its rate-setting meeting in 27days

By Steve UMIDHA On Feb 25, 2020

The Kenyan central bank’s Monetary Policy Committee will meet to set lending rates on March 23.

The committee cut the benchmark rate by a quarter point to 8.25% at its last meeting in January.

Kenya’s central bank cut its benchmark lending rate last month for the second time in a row, saying the economy was operating below potential and there was room for a more accommodative monetary policy.

The bank slashed the rate to 8.25per cent from 8.50 per cent, following a reduction in November by 50 basis points, the first such move by policymakers after holding it for seven straight meetings.

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Steven Umidha is a data and financial journalist with over 14 years of work experience in journalism and communication.

He specialises in finance and economics reporting as well as on the causes, impacts, and solutions of global warming, conservation, pollution and sustainability, often blending scientific literacy with journalist ethics, while involving policy analysis and multimedia storytelling across various platforms in highlighting issues from biodiversity loss to ecological justice.

Besides being the Founder of Financial Fortune Media, Umidha has previously worked with the Standard Media Group, Mediamax Networks LTD, bird story agency, Business Journal Africa, and Financial Post among other outlets.

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