The decision takes the Central Bank of Kenya’s policy rate to 9,25% from 9,50% previously. The bank’s Monetary Policy Committee (MPC) said the 25 basis-point rate cut would bolster previous moves to stimulate lending by banks to the private sector and support economic activity, while ensuring inflationary expectations remain well anchored. Consumer inflation stood at 4,6% year-on-year in September, up slightly from 4,5% the previous month but comfortably inside the 2,5% to 7,5% target band.

–Reuters–