NAIROBI, May 31 – Kenya raised its benchmark lending rate by a smaller-than-expected 25 basis points on Tuesday but also raised the amount of deposits banks must hold with the central bank in a bid to tame double-digit inflation.
All but one of 17 analysts polled by Reuters had expected Kenya’s Monetary Policy Committee to raise rates for the second time this year, but most had gone for a 50 basis point increase.
Source: newsletter Reuters Africa
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