Surprise policy rate hike by CB
In a surprise move, the Central Bank yesterday tightened key monetary policy rates by 50 basis points to check nagging inflationary pressures fuelled by obstinately high credit growth.
For the second time since December the Central Bank tightened its policy rates, raising the Standing Deposit Facility (SDF) rate and the Standing Lending Facility Rate (SLFR) to 7.00% and 8.50% respectively, despite giving little prior indication of its intentions.
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