Kenya's business sentiment drops as credit tightens

The Kenyan business sentiment weakened further in July, falling to a five-month low of 54.5, having already fallen to 58.6 in June, according to a business sentiment indicator compiled by Standard Chartered Bank.

This is a diffusion index, summarising in a single number how optimistic businesses feel about current and future economic conditions in Kenya. The index cites significant pressure on the Kenyan Shilling in recent weeks and the aggressive tightening response by the Central Bank of Kenya (CBK).