CBK keeps base rate at 18pc for sixth month
06 June 2012, 13:09
Nairobi - The Monetary Policy Committee (MPC) has chosen to retain the Central Bank Rate (CBR) at 18 percent for the sixth month running, citing the need to sustain stability in the face of external shocks.
Despite inflation easing further to 12.22 percent this month, Capital News reports that the struggling shilling proved to be the deal breaker for the market’s high expectations for a cut.
Last week the local unit hit a four-month low of KES 87.90 against the greenback.
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