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Economics

Kenya Joins Global Pausing Club as Inflation Seen Easing

  • Only two of five economists predicted an unchanged stance
  • Limited duty-free food imports expected to moderate prices
Old and new-issue currency bills in Nairobi, Kenya. 

Old and new-issue currency bills in Nairobi, Kenya. 

Photographer: Tony Karumba/AFP/Getty Images
Updated on

Kenya surprised most analysts by keeping its benchmark interest rate unchanged for the first time since July, as it sees inflation declining in the near term.

The monetary policy committee held the rate at 8.75%, Governor Patrick Njoroge said Monday in an emailed statement. Only two of five economists in a Bloomberg survey expected the rate to remain unchanged.