Kenya Leaves Key Rate Unchanged at Governor’s Last Meeting
- Central bank holds rate at 9.5% as it sees inflation easing
- Governor Patrick Njoroge’s second and final term ends in June
Patrick Njoroge
Photographer: Stefan Wermuth/BloombergThis article is for subscribers only.
Kenya’s central bank left the benchmark interest rate unchanged at its final meeting presided over by Governor Patrick Njoroge as it expects inflation to ease further.
The monetary policy committee held the rate at 9.5%, Njoroge, who is due to step down next month after eight years at the bank’s helm, said Monday in an emailed statement. Five of six economists surveyed by Bloomberg anticipated the decision, while one expected a 25 basis-point hike. President William Ruto has nominated Kamau Thugge to fill the governor’s post when it falls vacant on June 17 and lawmakers are due to vet him on Tuesday.