Economics
Kenya Holds Rate at 3 1/2-Year Low as Inflation Set to Ease
- Central bank expects inflation rate to decline in near term
- Monetary Policy Committee says growth to ‘remain strong’
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Kenya’s central bank retained its key interest rate at a 3 1/2-year low as inflation remained within its target range and is expected to decelerate.
The Monetary Policy Committee held the rate at 9 percent, Governor Patrick Njoroge said in an emailed statement Monday from the capital, Nairobi. That matches the prediction of all nine economists in a Bloomberg survey.