×
App Icon
The Standard e-Paper
Truth Without Fear
★★★★ - on Play Store
Download Now

Thugge: Rate hike to shore up shilling, end dollar hoarding

Vocalize Pre-Player Loader

Audio By Vocalize

CBK Governor Kamau Thugge. [Elvis Ogina, Standard]

The Central Bank of Kenya (CBK) says Tuesday's unexpected increase in the key lending rate will help prevent dollar hoarding as the shilling edges towards the 155 mark against the greenback.

The banking regulator raised its benchmark lending rate by a significant 200 basis points to 12.50 per cent from the previous 10.50 per cent.

Premium Article

Get Full Access for Ksh299/Week.

Uncover the stories others won't tell. Subscribe now for exclusive access.
Continue Reading  →
What you get
  • Unlimited access to all premium content
  • Ad-free browsing experience
  • Mobile-optimised reading
  • Weekly newsletters & digests
Pay via
M - PESA
VISA
Airtel Money
Secure Payments Kenya's most trusted newsroom since 1902
By Brian Ngugi 13 hrs ago
Business
Kingdom Bank hits jackpot with SMEs, rural push as net profit hits Sh946m
Shipping & Logistics
Iran war a blessing in disguise for Lamu Port
Business
State roots for value addition to boost industrial output
Business
Kenya eyes new trade deals as Chinese VP lands in Nairobi