Policymakers raised the benchmark lending rate by 100 basis points to 10.50%
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The Monetary Policy Committee of Kenya's central bank was forced to hold an off-cycle meeting after inflation rose in May, instead of the predicted decline, the governor of the bank, Kamau Thugge, said on Tuesday.
Policymakers raised the benchmark lending rate by 100 basis points to 10.50%, the highest level since 2016, during their meeting on Monday, which was held a month early. (Reporting by Duncan Miriri)
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