t its previous meeting the CBK increased the interest rate by 400bps to 11.00%, after raising 75bps in September, and previously increased, and subsequently decreased the discount window rate by 75 basis points to 6.25%. The Kenyan central bank last increased the benchmark lending rate by 25 basis points in May this year.
Kenya experienced annual headline inflation of 18.91% in October, up from 17.3% in September, 16.7% in August, up from 15.5% in July, and up sharply from 9.19% in March this year, according to
A Kenyan Ministry of Finance official noted that Kenya is expected to record economic growth around 5-5.5% this year, and 6% next year.
The Kenyan Shilling (KES) has weakened about 23% against the US dollar so far this year; the USDKES exchange rate last traded around 98.4.