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CBK pushes back, rejects Sh35bn bond bids at auction
With inflation rising to 6.7 percent in May from 4.4 percent in March on costly fuel, some analysts had anticipated that the CBK would announce a rate hike in the MPC meeting.
The Central Bank of Kenya (CBK) rejected bids worth Sh35 billion in the latest Treasury bond auction as it pushed back against demands by investors for higher interest returns of up to 15 percent.
Investors offered Sh77.63 billion in the sale of two reopened 20 and 25-year papers that had a target of Sh60 billion, but the CBK took up Sh42.57 billion.
