The Central Bank of Kenya faces a test of its resolve to keep a lid on the cost of government borrowing in the ongoing sale of the Sh35 billion January 2024 Treasury bond, which is the first to be floated since the regulator raised the base lending rate by two percentage points.
The CBK has split the sale into two tranches, comprising a new three-year bond and the third re-opening of a five-year bond first sold in July.
