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Treasury bill rates rise above 9pc as US renews Iran strikes
Kenya’s inflation stood at 6.4 percent in June, coming down from 6.7 percent in May, but still significantly higher compared to the rate of 4.3 percent in February, when the Iran war started.
The interest rate on the one-year Treasury bill has climbed above nine percent for the first time in five months on fears of higher inflation after the US and Iran renewed hostilities last week.
The Central Bank of Kenya (CBK) had successfully kept the 364-day rate below 9 percent for the past month, but it relented in the Thursday auction, agreeing to pay 9.04 percent for the one-year debt from 8.99 percent in the previous sale.
