CBK says it won't devalue shilling

The Central Bank of Kenya has insisted it will not intervene in the market to devalue the strengthening shilling in the face of continued pressure from agricultural exporters.

Speaking during the release of the latest Steadman business confidence report, CBK deputy director Benjamin Muturu said the devaluation of the shilling will impact negatively in many sectors of the economy as well as pushing up inflation rates.

He also said the government has embraced a tight fiscal policy that will ensur