The Central Bank of Kenya has raised its benchmark rate by 50 basis points, the first hike in seven years.
The bank’s monetary committee says the hike is meant to match inflation expectations due to a surge in commodity prices.
A statement by MPC has said the decision was taken because of “elevated risks to the inflation outlook due to increased global commodity prices and supply chain disruptions.
This is the first interest rates hike by the bank since 2015. Inflation currently…
