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CBK holds base rate at 18pc to tame inflation

07 March 2012, 08:23

Nairobi – The Monetary Policy Committee (MPC) has maintained the current Central Bank Rate (CBR) at 18 percent in a bid to ensure reduced inflation and sustain the exchange rate stability.

After a meeting on Tuesday, the committee also observed that the current monetary policy stance supported by appropriate fiscal policy had continued to deliver the desired outcomes on inflation and the exchange rate.

Overall inflation continued to decline, dropping from 18.31 percent in January 2012 to 16.69 percent in February, while the exchange rate of the Kenya shilling to the US dollar remained stable within the narrow range of Sh82.65 to Sh83.93, an outcome of the policy of a floating exchange rate.

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