Business NewsAt its March meeting the committee reduced the amount of cash that lenders are required to set aside, unlocking Sh35.2 billion for lending. The Central Bank of Kenya (CBK) has kept its benchmark lending rate at 7.0 per cent on Wednesday, as expected, judging that its current accommodative stance remained appropriate, the Monetary Policy Committee said in a statement. SEE ALSO: Central bank retains benchmark lending rate at 7.0 per centAt its March meeting the committee reduced the amount of cash that lenders are required to set aside, unlocking Sh35.2 billion for lending. Bank loans worth Sh273 billion, 9.5 per cent of the total, have also been restructured due to coronavirus-related hardships. “Given the downside risks to the economy this year, we still expect to see a CBR (central bank rate) at 5.0 per cent by the year end,” she said.

Source: Standard Digital May 27, 2020 17:11 UTC