Kenyan Central Bank Makes Huge Interest Rate Cut

From 16.5% to 13%

The Kenya central bank just did a massive rate cut, from 16.5% to 13%.

Thanks to falling inflation, the bank had been expected to cut to 14%, to this is a much bigger move than expected.

This follows an aggressive cut in Uganda yesterday, and leads central bank action in the UK and the Eurozone tomorrow.

Bloomberg notes that the economy is flagging thanks to weak exports: