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Market Update: Kenya Holds Key Interest Rate Steady at 7%
The central bank of Kenya kept its benchmark interest rate unchanged at 7% during its May meeting, saying the current accommodative monetary policy stance remains appropriate. Inflation remains well anchored and it is expected to remain within the target range in the near term, supported by lower food prices and muted demand pressures, despite the recent increase in fuel prices. The MPC added that will closely monitor the impact of the policy measures, as well as developments in the global and domestic economy, and stands ready to take additional measures as necessary. source: Central Bank of Kenya [/s2If]
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