CBK Lowers CBR rate to 10% to boost private sector credit, Current account deficit improves to 5.5% of GDP – Full Report Here

479
CBK Lowers CBR rate to 10% to boost private sector credit

Following a meeting held today by the Monetary Policy Committee today, September 20th 2016, The Committee has lowered the Base Lending Rate to 10%. This will translate to lower interest rates offered to banks and consumers at a ma of 14%. This is aimed at boosting private sector lending according to this Committee.

The Current account deficit has fallen to 5.5% from 6.8%. This means that the government has borrowed less from the local economy.

Foreign reserves have also increased.

 

Below is the full report. Click here to download full report —> mpc-press-release-meeting-of-september-20-2016