Rates round-up: Kenya raises rates to highest since 2018

Sarb adds 50bp more as economy struggles; Zimbabwe cuts 1,000bp; Mozambique holds

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Central Bank of Kenya

Kenya: The Central Bank of Kenya raised its key rate on March 29 by 75 basis points to 9.5%. This is the fourth rate rise in the last six monetary policy meetings, totalling 250bp of increases since last May.

The decision brings the central bank rate to its highest level in nearly five years.

The central bank’s monetary policy committee referred to “sustained inflationary pressures” and a turbulent global environment to explain its move. The headline inflation figure rose from 9% in January to

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