{"id":23841,"date":"2011-09-14T13:26:00","date_gmt":"2011-09-14T17:26:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/2011\/09\/14\/central-bank-of-kenya-raises-rate-75bps-to-7-00\/"},"modified":"2011-09-14T13:26:00","modified_gmt":"2011-09-14T17:26:00","slug":"central-bank-of-kenya-raises-rate-75bps-to-7-00","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/09\/14\/central-bank-of-kenya-raises-rate-75bps-to-7-00\/","title":{"rendered":"Central Bank of Kenya Raises Rate 75bps to 7.00%"},"content":{"rendered":"<p><span><span>The&nbsp;<span><a href=\"http:\/\/www.centralbank.go.ke\/\" target=\"_blank\">Central Bank of Kenya<\/a>&nbsp;increased its benchmark lending rate by 75 basis points to 7.00% from 6.25% previously. &nbsp;The central bank Governor, Njuguna Ndung&#8217;u, said: &#8220;The Committee observed that inflation, exchange rate and money market volatility continued to pose a challenge to the economy. Specifically, the debt crisis in Europe continues to have a significant impact on the economy through the exchange rate volatility. Events in the USA and Europe are expected to continue affecting &nbsp;the exchange rate, inflation and the economic recovery.&#8221;<\/span><\/span><\/span><br \/><span><span><span><\/span><\/span><\/span><br \/><a name='more'><\/a><span><span><span>A<\/span><\/span><\/span><span>t its previous meeting the CBK held the <a href=\"http:\/\/www.centralbanknews.info\/2011\/07\/central-bank-of-kenya-holds-interest.html\">rate unchanged<\/a>, but had previously increased, and subsequently decreased the&nbsp;<a href=\"http:\/\/www.centralbanknews.info\/2011\/07\/central-bank-of-kenya-reverses-discount.html\">discount window rate<\/a>&nbsp;by 75 basis points to 6.25%. &nbsp;The Kenyan central bank last increased the benchmark&nbsp;<a href=\"http:\/\/www.centralbanknews.info\/2011\/05\/central-bank-of-kenya-lifts-interest.html\">lending rate<\/a>&nbsp;by 25 basis points in May this year. &nbsp;Kenya experienced inflation of 16.7% in August, up from 15.5% in July, and up sharply from 9.19% in March this year, according to&nbsp;<span>inflation data from the Kenya National Bureau of Statistics. &nbsp;The Central Bank of Kenya has an inflation target of 5 percent. &nbsp;A Kenyan Ministry of Finance official noted that Kenya is expected to record economic growth around 5-5.5% this year, and 6% next year.<\/span><\/span><br \/><span><span><br \/><\/span><\/span><\/p>\n<div>\n<div><span><span><span><span><a href=\"http:\/\/www.centralbanknews.info\/\">www.CentralBankNews.info<\/a><\/span><\/span><\/span><\/span><\/div>\n<\/div>\n<div><img loading=\"lazy\" decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/blogger.googleusercontent.com\/tracker\/8290544642025682538-1731537758581718347?l=www.centralbanknews.info\" alt=\"\" \/><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The&nbsp;Central Bank of Kenya&nbsp;increased its benchmark lending rate by 75 basis points to 7.00% from 6.25% previously. &nbsp;The central bank Governor, Njuguna Ndung&#8217;u, said: &#8220;The Committee observed that inflation, exchange rate and money market volatility continued to pose a challenge to the economy. Specifically, the debt crisis in Europe continues to have a significant impact &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2011\/09\/14\/central-bank-of-kenya-raises-rate-75bps-to-7-00\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Central Bank of Kenya Raises Rate 75bps to 7.00%&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-23841","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/23841","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=23841"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/23841\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=23841"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=23841"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=23841"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}