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Investors demand 9pc return on T-bills despite CBK move
Investors sought higher returns on Treasury bills as rising inflation reduced real yields, despite CBK's expectation that price pressures will remain within its target range.
Investors demanded a return of up to nine percent on Treasury bills in the latest auction despite the Central Bank of Kenya (CBK) holding its base rate at 8.75 percent, to signal that it expects inflation to moderate in the near term.
T-bill rates across the three tenors have risen by between 0.7 and 1.3 percentage points as investors seek higher compensation to cover rising inflation caused by the three-month war in Iran.
