Kenya’s Finance Minister Advocates for Lower Lending Rates Amid Falling Inflation

Reuters says Kenya’s Finance Minister, John Mbadi, stated on Wednesday that the central bank should begin lowering its lending rate in light of declining inflation. The government aims for an inflation target of 2.5% to 7.5% in the medium term. In September, inflation decreased to 3.6% year-on-year, down from 4.4% in August and 4.3% in July. “The inflation rate is firmly under control now,” Mbadi remarked during a Senate appearance.