Investors offered the government Sh400 billion in bond and Treasury bill auctions in the last three weeks as they rushed to lock in higher yields before the Central Bank of Kenya (CBK) cut its base rate on February 10.
The apex bank lowered the base rate by 0.25 percentage points to 8.75 percent, the 10th consecutive cut since August 2024. Over the period, the rate has come down by a cumulative 4.25 percentage points from 13 percent.
