Kenya: CBK Meets Monday With Eye On Inflation

May 29, 2017 | Daily Nation; All Africa

The Monetary Policy Committee (MPC) of the Kenyan central bank is widely expected to leave its benchmark lending rate unchanged despite concern over inflation.

The Central Bank of Kenya's (CBK) policy body will hold its meeting on Monday with inflation the key issue on the table. The Monetary Policy Committee (MPC) is widely expected to leave its benchmark lending rate unchanged despite concern over inflation. Analysts polled by the Business Daily earlier expect the MPC to leave the rate constant. The CBK held the base lending rate at 10 per cent at the March meeting despite a slightly weaker shilling and rising inflation. The shilling has been recording marginal gains for the last few days, with traders noting that there was a decline in dollar demand among importers. On Friday, the CBK quoted the shilling at 103.3. Kenya has ramped up maize, oil and sugar imports recently piling pressure on the shilling. Read more on All Africa.

Source: All Africa