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Kenyan central bank raises CBR by 75 bps to 7.0pc

NAIROBI : Kenya 's central bank raised its benchmark interest rate (CBR) by 75 basis points to 7.0 percent on Wednesday
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By Imad Uddin
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NAIROBI: Kenya's central bank raised its benchmark interest rate (CBR) by 75 basis points to 7.0 percent on Wednesday, and maintained its liquidity requirements for commercial banks, it said in a statement after a special meeting of its monetary policy committee.

The committee said its main objective was to bring inflation down to target level, adding that central bank was ready to take action to ease pressure on the battered shilling .

 

Copyright Reuters, 2011

 

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