The Central Bank of Kenya (CBK) has kept its base rate unchanged at 8.75 percent, pausing the run of cuts in the previous 10 monetary policy committee meetings as it monitors the effect of the Iran war on the country's inflation.
The April rate setting meeting took place against the backdrop of the Iran conflict that has caused a spike in oil prices and clouded the prospects of global economic growth. The war has also disrupted Kenya’s exports to the Gulf region, including tea, coffee and meat products.
