NSE tipped for further decline as inflation, rates hike batter economy

Senior Portfolio Manager at ICEA Lion George Kamau (left). [Wilberforce Okwiri, Standard]

The country could be looking at the onset of a prolonged bear market (prolonged price declines) amid rising interest rates, inflation and the spillover effects of the Russia-Ukraine conflict.

Senior Portfolio Manager at ICEA Lion George Kamau said the Monetary Policy Committee (MPC), which meets on July 27, is expected to raise the Central Bank Rate by between 50 and 100 basis points (0.5 to one per cent).