Kenya Faces Possible Rate Hike Ahead of MPC Meeting

Kenya is expected to raise interest rates this month as the Central Bank prepares for its MPC meeting on October 7, amid rising inflation which reached 6.8% in September. The Central Bank of Kenya (CBK) has kept the rate at 8.75% since August, following a 25 basis point cut in February. The potential rate hike aims to curb inflation driven by food and transport costs and to support economic stability.