{"id":11978,"date":"2020-07-29T18:13:47","date_gmt":"2020-07-29T18:13:47","guid":{"rendered":"https:\/\/www.africa-press.com\/kenya\/?p=11978"},"modified":"2020-07-29T18:13:47","modified_gmt":"2020-07-29T18:13:47","slug":"central-bank-holds-key-lending-rate-at-seven-per-cent","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/economy\/central-bank-holds-key-lending-rate-at-seven-per-cent","title":{"rendered":"Central bank holds key lending rate at seven per cent"},"content":{"rendered":"<p><strong>AfricaPress-Kenya:<\/strong> The central bank held its benchmark lending rate at 7.0 per cent for the third time in a row on Wednesday, saying its current easing stance was having the desired effect.<\/p>\n<p>Like other central banks around the world, policymakers in the East African nation adopted a range of easing measures at the onset of the coronavirus crisis in March and April, to try to limit the damage to the economy.<\/p>\n<p>\u201cThe package of policy measures implemented since March were having the intended effect on the economy,\u201d the bank\u2019s Monetary Policy Committee (MPC) said in a statement, referring to a total of 125 basis points cut to the benchmark lending rate and a cut in the cash reserves banks are required to hold.<\/p>\n<p>Commercial banks have so far changed the terms of loans worth Sh844.4 billion ($7.85 billion), equivalent to 29 per cent of the total outstanding loans of Sh2.9 trillion for the industry, the MPC said, offering relief to borrowers hard-pressed by the impact of the pandemic.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>AfricaPress-Kenya: The central bank held its benchmark lending rate at 7.0 per cent for the third time in a row on Wednesday, saying its current easing stance was having the desired effect. Like other central banks around the world, policymakers in the East African nation adopted a range of easing measures at the onset of [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":11979,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[2217,4934],"class_list":["post-11978","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-central-bank-of-kenya","tag-monetary-policy-committee"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Central bank holds key lending rate at seven per cent - kenya<\/title>\n<meta name=\"description\" content=\"The central bank held its benchmark lending rate at 7.0 per cent for the third time in a row on Wednesday, saying its current easing stance was\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/economy\/central-bank-holds-key-lending-rate-at-seven-per-cent\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Central bank holds key lending rate at seven per cent\" \/>\n<meta property=\"og:description\" content=\"The central bank held its benchmark lending rate at 7.0 per cent for the third time in a row on Wednesday, saying its current easing stance was\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/economy\/central-bank-holds-key-lending-rate-at-seven-per-cent\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2020-07-29T18:13:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2020\/07\/central_bank_holds_k5f21a09fdf6fd.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"652\" \/>\n\t<meta property=\"og:image:height\" content=\"409\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/central-bank-holds-key-lending-rate-at-seven-per-cent#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/central-bank-holds-key-lending-rate-at-seven-per-cent\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Central bank holds key lending rate at seven per cent\",\"datePublished\":\"2020-07-29T18:13:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/central-bank-holds-key-lending-rate-at-seven-per-cent\"},\"wordCount\":175,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/central-bank-holds-key-lending-rate-at-seven-per-cent#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2020\/07\/central_bank_holds_k5f21a09fdf6fd.jpg\",\"keywords\":[\"Central Bank of Kenya\",\"Monetary Policy Committee\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/economy\/central-bank-holds-key-lending-rate-at-seven-per-cent#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/central-bank-holds-key-lending-rate-at-seven-per-cent\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/economy\/central-bank-holds-key-lending-rate-at-seven-per-cent\",\"name\":\"Central bank holds key lending rate at seven per cent - 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