Kenya holds rates at 8.75%

The Central Bank of Kenya decided on Thursday to hold its benchmark rate at 8.75%.

The present rate was, the central bank said, "consistent with the monetary policy stance and the economic conditions in the country."

The central bank raised rates to 8.75% from 8.5% in August after inflation rose from 11% to 13.6%. This hike appears to be having an impact. Month-on-month inflation fell from 12.4% in August to 11.7% in September.

However, underlying inflation rose from 5.1% to 5.3% during the s

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