Kenya, SA hold rates, flag recovery
The Central Bank of Kenya opted to hold rates on Wednesday despite a recent drought crippling the country's agriculture and energy industries.
The central bank acknowledged that the drought had wreaked havoc on the sectors along with livestock business and that it would likely stifle economic growth in the third quarter.
However, the central bank said that owing to forecasts for rains in the three months to December, the fast tracking of an economic stimulus package and improvements in tea and
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