Kenyan central bank raises benchmark rate to 8.75 percent amid surge in inflation

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Kenyan central bank raises benchmark rate to 8.75 percent amid surge in inflation

STORY: Kenyan central bank raises benchmark rate to 8.75 pct amid surge in inflation DATELINE: Nov. 25, 2022 LENGTH: 0:01:41 LOCATION: Nairobi CATEGORY: ECONOMY SHOTLIST: 1. various of Kenya 2. SOUNDBITE (English): PATRICK NJOROGE, Governor of the Central Bank of Kenya 3. various of Kenya STORYLINE: The Central Bank of Kenya (CBK) on Wednesday raised its benchmark lending rate to 8.75 percent from 8.25 percent amid rising inflation. Patrick Njoroge, CBK Governor, who chaired the Monetary Policy Committee (MPC) meeting noted that the current elevated global risks and their potential impact on the domestic economy provides scope for a further tightening of the monetary policy to anchor inflation expectations. SOUNDBITE (English): PATRICK NJOROGE, Governor of the Central Bank of Kenya "Number and percent, 9.6 percent. And you can see it's been driven largely by food and fuel prices, but largely food. So this is the contribution to overall inflation. So it is important to appreciate why it is we in, this is

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