Investors in Treasury bills set off a new rush for the securities in the latest auction as they sought to lock in gains before rates fell further following last week’s 0.5 percentage point cut in the Central Bank of Kenya (CBK) base rate.
Bids in the sale came in at Sh71.18 billion, the highest subscription rate in 11 weeks. The CBK took up Sh59.4 billion, having had the luxury of leaving bids it considered expensive on the table.
