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Kenya’s Central Bank Governor Hamstrung by Sliding Currency

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Kenya’s new central bank governor Patrick Njoroge is hamstrung by a sliding currency that’s challenging his ability to support an economy hit by a collapse in tourism.

Njoroge, 53, chairing his first Monetary Policy Committee meeting on Tuesday, is set to leave the benchmark interest rate unchanged at 10 percent, according to 14 of the 16 economists surveyed by Bloomberg. Two predicted an increase of 50 basis points to 100 basis points.