Kenya: Monetary Policy Committee Retains Benchmark Rate Of10%

Kenya's Monetary Policy Committee has retained the benchmark central bank rate at 10% to anchor inflation expectations. The committee noted that month-on-month overall inflation declined to 6.4% in December from 6.7% in November. However, food inflation remained elevated in December due to unusually dry weather conditions. Food and electricity prices are expected to remain high in the near term. The foreign exchange market remains relatively stable.
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