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Shilling steady against dollar, seen in tight range

The shilling was steady against the dollar Thursday after the Central Bank of Kenya (CBK) left its key lending rate unchanged a day earlier, as the decision had been priced in, traders said.

CBK held interest rates at 18 per cent as excepted for a second straight month, but analysts forecast the bank would ease its tight monetary policy in coming months, underpinned by the stability of the currency and as inflation cools.

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