Njoroge cites need to anchor expectations as Central Bank of Kenya holds
Monetary policy committee keeps policy rate at 10.5%
The Central Bank of Kenya (CBK) kept its policy rate at 10.5% today (July 25), with a view to anchoring inflation expectations, governor Patrick Njoroge says in a press release.
The monetary policy committee feels a recent increase in fuel tax is expected to lead to "temporary upward pressure on consumer prices", he says. Annual consumer price index inflation rose to 5.8% in June from 5% in May.
Nevertheless, Njoroge says, inflation is expected to remain within the target range "in the short
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