Sunday, May 28, 2023
  • Login
Upgrade
The Southern African Times
  • Home
  • Southern Africa
  • Business
    • African Start ups
    • African Continental Free Trade Area
  • Tech
    • Lifestyle
      • Health
      • Culture
      • Food and Drink
      • Entertainment
  • Opinion
  • Sports
  • Events
  • SAT Jobs
  • About Us
    • Advertise with Us
    • Contact Us
No Result
View All Result
  • Home
  • Southern Africa
  • Business
    • African Start ups
    • African Continental Free Trade Area
  • Tech
    • Lifestyle
      • Health
      • Culture
      • Food and Drink
      • Entertainment
  • Opinion
  • Sports
  • Events
  • SAT Jobs
  • About Us
    • Advertise with Us
    • Contact Us
No Result
View All Result
The Southern African Times
No Result
View All Result
Home

Kenya’s apex bank raises benchmark rate to 7.5 pct amid rising food prices

by SAT Reporter
May 31, 2022
in Markets
0
Kenya’s apex bank raises benchmark rate to 7.5 pct amid rising food prices
0
VIEWS

The Central Bank of Kenya (CBK) on Monday raised its benchmark lending rate to 7.5 percent from 7 percent amid the rising global commodity prices.

Patrick Njoroge, the CBK governor, who chaired the Monetary Policy Committee (MPC) meeting in Nairobi, the capital of Kenya, noted the elevated risks to the inflation outlook and concluded that there was scope for a tightening of the monetary policy in order to further anchor inflation expectations.

“The MPC reviewed the outcomes of its previous decisions and the measures implemented to mitigate the adverse economic impact and the financial disruptions,” Njoroge said in a statement.

The committee met against a backdrop of a changed global outlook, geopolitical tensions, rising commodity prices, the COVID-19 pandemic and measures taken by authorities around the world in response to these developments.

The MPC also noted the adverse impact of the ongoing Russia-Ukraine conflict and other global disruptions on the Kenyan economy through increases in commodity prices particularly fuel, wheat, edible oils and fertilizer.

Njoroge observed that the global economic outlook has become more uncertain, reflecting the impact of the ongoing Russia-Ukraine conflict, uncertainty about the required policy responses in the advanced economies, and persistent supply chain disruptions.

The apex bank said that it will closely monitor the impact of the policy measures, as well as developments in the global and domestic economy, and stands ready to take additional measures as necessary.

Previous Post

Tunisia to slash public sector pay to unlock IMF loan

Next Post

East Africa’s opportunity in energy and infrastructure disputes

SAT Reporter

Related Posts

Zimbabwe’s Roundtable Meeting Focuses on Debt Arrears Clearance and Economic Reforms
Markets

Zimbabwe’s Roundtable Meeting Focuses on Debt Arrears Clearance and Economic Reforms

by SAT Reporter
May 25, 2023
VFEX Paves the Way for Diaspora Investment in Zimbabwe’s Capital Markets
Markets

VFEX Paves the Way for Diaspora Investment in Zimbabwe’s Capital Markets

by SAT Reporter
May 25, 2023
Kenya Launches First Public Electric Bus Charging Station, Boosts Green Mobility
Markets

Kenya Launches First Public Electric Bus Charging Station, Boosts Green Mobility

by SAT Reporter
May 25, 2023
South Africa Set for Big Rate Hike as Policy Missteps Hit Rand
Markets

South Africa Set for Big Rate Hike as Policy Missteps Hit Rand

by SAT Reporter
May 25, 2023
Angola Achieves Positive Balance of $32.7 Billion in Foreign Trade in 2022

Angola Achieves Positive Balance of $32.7 Billion in Foreign Trade in 2022

by SAT Reporter
May 25, 2023
Next Post
East Africa’s opportunity in energy and infrastructure disputes

East Africa’s opportunity in energy and infrastructure disputes

Browse by Category

  • African Continental Free Trade Area
  • African Debt
  • African Start ups
  • Algeria
  • Analysis
  • Angola
  • Asia
  • Botswana
  • BOTSWANA
  • BRICS
  • Burkina Faso
  • Burundi
  • Business
  • Business
  • Cameroon
  • Central Africa
  • China
  • Climate Change
  • Climate Changev
  • Congo Republic
  • COVID 19
  • Culture
  • Democratic Republic of Congo
  • Eastern Africa
  • Education
  • Egypt
  • Energy
  • Entertainment
  • Environment
  • Ethiopia
  • Europe
  • Fashion
  • Feature
  • Finance
  • Food
  • Food and Drink
  • Foods
  • Ghana
  • Global
  • Guinea
  • Health
  • Immigration
  • in Southern Africa
  • International news
  • Just In
  • Kenya
  • Lesotho
  • Libya
  • Life Style
  • Lifestyle
  • Malawi
  • Malawi
  • Mali
  • Markets
  • Middle East
  • Mozambique
  • Namibia
  • Nigeria
  • North Africa
  • North-Eastern Africa
  • Opinion
  • Politics
  • Racism
  • Rwanda
  • SAT Jobs
  • Senegal
  • Seychelles
  • South Africa
  • South Sudan
  • Sports
  • Startup Africa
  • STOCK EXCHANGE
  • Sustainablity
  • Tanzania
  • Tech
  • Togo
  • Travel
  • Travel
  • Tunisia
  • Uganda
  • Uncategorized
  • West Africa
  • World
  • World
  • ZAMBIA
  • Zambia
  • ZIMBABWE
  • Zimbabwe

Browse by Tags

africa African business news Africa News african footballer african markets African news African start-up banking Business China Classic Climate change Content currency economy Explore Bali Finance football Health Investment Kenya Life Style Markets Market Stories news Nigeria oil and gas Opinion Pandemic Politics Premium Russia South Africa Southern African News sports Stay Home technology Travel United Kingdom United Stated Vaccine Work From Home Wuhan Zambia Zimbabwe

WHO WE ARE

The Southern African Times is a regional bloc digital newspaper that covers Southern African and the world news. The paper also gives a nuanced analysis on news and covers a wide range of reporting which include sports, entertainment, foreign affairs, arts and culture.

Facebook Twitter Youtube Instagram Rss

Copyright © 2022 The Southern African Times | Powered by The Southern African Times

Privacy Policy

Terms and Conditions

  • Home
  • Southern Africa
  • Business
    • African Start ups
    • African Continental Free Trade Area
  • Tech
    • Lifestyle
      • Health
      • Culture
      • Food and Drink
      • Entertainment
  • Opinion
  • Sports
  • Events
  • SAT Jobs
  • About Us
    • Advertise with Us
    • Contact Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage vendors Read more about these purposes
View preferences
{title} {title} {title}
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?