Kenya Signals Gold Purchases as Central Bank Delivers 10th Rate Cut
Kenya Signals Gold Purchases as Central Bank Delivers 10th Rate Cut
The bank introduced this step as an additional buffer for its foreign exchange reserves, as announced by Governor Dr. Kamau Thugge during a post–Monetary Policy Committee (MPC) briefing.
The size of potential purchases or the timelines were not disclosed.
Earlier, the MPC delivered its 10th consecutive interest rate cut, lowering the benchmark rate to 8.75% in a move aimed at supporting credit growth.
While Thugge emphasized that inflation remains contained and is expected to stay below the midpoint of the target range in the near term, the central bank signaled—given stable inflation, a steady currency, and adequate reserves—that it sees room to support growth.
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