Kenya’s central bank has room to cut its benchmark interest rate, its governor said on Tuesday, adding that other interventions were also needed to help economic recovery in the face of a coronavirus-induced slump. “There is definitely space to cut interest rates,” Patrick Njoroge told a news conference. More needed to be done to ensure that the economy can recover from the impact of the coronavirus, Njoroge said. “The measures that will have the most impact are not the sort of demand management measures. It’s actually the structural measures,” he said -- for example, offering more cargo freight space to fresh produce growers to help them export.

Source: The Star March 30, 2021 12:00 UTC