Economics
Kenya Cuts Rates After Scrapping Loan-Price Cap to Boost Growth
- Rate lowered to 8.5% from 9%; first cut in 16 months
- Economic expansion seen accelerating in second half of year
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Kenya’s central bank cut its benchmark interest rate for the first time in 16 months as the removal of a cap on borrowing costs will make it easier for policy decisions to flow to help boost credit and economic growth.