Kenya’s monetary policy committee (MPC) meeting held on Wednesday resolved to keep interest rates at 7per cent to support economic recovery. The committee noted that inflation was cooling off with December readings dropping to 5.7 per cent.
The biggest inflationary pressure was coming from higher global oil prices. The MPC noted that it expects inflation to remain within a target of 5per cent in 2022 as the government moves to lower electricity tariffs and stabilize oil prices.
