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Kenya Central Bank Sees Tight Policy Curbing Price Pressures

  • Governor Njoroge says inflation expectations 'need to fall'
  • Central bank working to reduce foreign-exchange volatility
Updated on

Kenyan central bank Governor Patrick Njoroge said higher interest rates have helped to curb inflation, which will probably remain at current levels in the near term.

“We have been pursuing a very tight monetary policy,” Njoroge told reporters Tuesday in the capital, Nairobi, at his first press conference since being appointed in June. “There are good prospects that inflation will be at the same level in the near future.”