Kenya: Early Rate Cut To Prove Ineffective

December 2008
Emerging Markets Monitor;12/8/2008, Vol. 14 Issue 34, p21
Country Report
The article examines the effect of the Central Bank of Kenya's (CBK) surprise 50 basis points interest rate cut to 8.50 percent on December 1, 2008. Analysts believe that the move is unlikely to boost growth significantly. It is noted that the central bank's move reflects a willingness to cut rates despite the widespread perception among investors that interest rates are too low in Kenya.


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