Central Bank of Kenya raises rate and denies FX shortage – Central Banking

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The Central Bank of Kenya’s (CBK) monetary policy committee (MPC) voted to raise its key rate on September 29, in its second hike this year. The central bank later issued a statement denying there was a shortage of foreign exchange, in response to comments by the deputy president.
The MPC raised its benchmark interest rate by 75 basis points, from 7.50% to 8.25%, saying it was “ready to take additional measures, as necessary”.
The hike came two days after the country’s newly elected president
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