Kenya central bank sees credit growth gathering paceKenya's central bank expects commercial lending rates to fall and the pace of private sector credit growth to pick up this year as the economy rebounds from an election-related slowdown, its governor said on Tuesday.
An aggressive tightening of monetary policy to tackle rampant inflation that began in mid-2011, and a slowdown in economic activity ahead of the presidential vote in March saw annual credit growth fall to about 12 per cent in February from 35 per cent in late 2011.
After the poll's disputed outcome was settled peacefully in court and not violently on the streets as happened five years ago, the government now expects economic growth to accelerate to 6 per cent this year from 4.6 per cent last.