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Kenya’s central bank raises benchmark rate from 8.5pc to 10pc
Nairobi, Kenya (Capital Markets in Africa) — Central Bank of Kenya’s Monetary Policy Committee has decided to raise the benchmark lending rate from 8.5 per cent to 10 per cent, the first increase since 2011. The decision, made at a meeting of the MPC called a month earlier than scheduled, is meant to address inflation fears and shore up the battered Kenya shilling better than the CBK’s interventions in the market. A statement signed by…
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