Kenya's central bank has reduced its benchmark interest rate to 11.25%, down from 12%, for the third time in a row.

The decision was made due to low inflation, which allows the bank to provide more support to the East African economy. The rate cut was larger than expected, exceeding the predictions of six economists surveyed by Bloomberg who had anticipated a smaller reduction of 50 basis points.

This action reflects the central bank's ongoing efforts to stimulate economic growth in favorable inflation conditions.