The Central Bank of Kenya on Monday raised its policy lending rate by half a percentage point to stem rising inflation and stabilise the shilling.
The increase in the central bank rate (CBR) to 7.50 percent matched the expectations of most analysts who had said they expect the policy rate to rise further in the coming months as the country fights off inflationary pressure brought home by rising oil prices and the economic fallout from the Russia-Ukraine onslaught which has hit food supplies.
