Kenya’s central bank left the benchmark interest rate unchanged at its final meeting presided over by Governor Patrick Njoroge as it expects inflation to ease further.
The monetary policy committee held the rate at 9.5%, Njoroge, who is due to step down next month after eight years at the bank’s helm, said Monday in an emailed statement. Five of six economists surveyed by Bloomberg anticipated the decision, while one expected a 25 basis-point hike. President William Ruto has nominated Kamau Thugge to fill the governor’s post when it falls vacant on June 17 and lawmakers are due to vet him on Tuesday.
Read More : Kenya Maintains Key Rate Unchanged at Governor’s Final Meeting