Market News
Kenya central bank keeps main lending rate unchanged - REUTERS
NAIROBI, Oct 7 (Reuters) – Kenya’s central bank maintained its benchmark lending rate at 8.75%, it said on Wednesday after a meeting of its Monetary Policy Committee.
- It was the fourth policy meeting in a row that the Central Bank of Kenya has kept the rate unchanged.
- A Reuters poll of 11 economists had nine predicting a hold, while two had predicted a raise to 9.0%.
- Kenya’s inflation rose to 6.8% year-on-year in September from 6.6% a month earlier, moving closer to the upper end of the government’s preferred 2.5%-7.5% range.
- Inflation is expected to remain within the target range in the near term, the bank said in a statement.
