Economics
Kenya Holds Key Rate as Policy Bind Persists on Rate-Cap Law
- Central bank may resume easing cycle if law is scrapped
- Regulator cut benchmark rate by 150 basis points in 2016
This article is for subscribers only.
Kenya’s central bank left its key rate unchanged for a seventh straight meeting as a protracted election period weighs on growth and a law capping borrowing charges impedes policy making.
The Monetary Policy Committee retained the rate at 10 percent, Governor Patrick Njoroge said Thursday, in line with six economists’ estimates in a Bloomberg survey.