Nairobi — Kenya’s central bank joined its South African counterpart by unexpectedly cutting interest rates, citing well-anchored inflation expectations and an economy that’s operating below its potential.
The monetary policy committee (MPC) reduced its key rate to 8.25% from 8.5%, governor Patrick Njoroge said in an e-mailed statement on Monday. That’s the second consecutive cut and moves the rate to the lowest in more than eight years. All three economists surveyed by Bloomberg said it would remain unchanged...
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