Central Bank raises lending rate for the first time in 3 years
07 July 2015, 21:44
Nairobi - Kenya's central bank raised its benchmark lending rate to 11.50 percent on Tuesday from 10.0 percent saying there were heightened risks to the inflation outlook after the shilling weakened.
Policy makers raised rates for the first time in three and a half years by 150 basis points in June to 10.0 percent when they called a special meeting to deal with the weakening currency.
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