The Central Bank of Kenya (CBK) rejected Sh19.7 billion from bond bidders in its October auction as it continues efforts to bring down domestic interest rates in a bid to reignite economic growth.
The bond sale was also seen as a test of the CBK’s resolve to cut the high cost of the government’s domestic borrowing after rates rose sharply over the past year to touch highs of 18.5 percent on short-term bonds.
