Emerging Markets Update - InFocus: Kenya
The Central Bank of Kenya is expected to cut the key lending rate when the Monetary Policy Committee meets tomorrow | Expect the Shilling to remain week for at least the next 3 months unless economic or other data (e.g. COVID-19 trajectory) surprises the market on the upside | Tomorrow's expected interest rate cut follows this morning's release of weaker growth on 2019 of 5.4% compared to 6.3% in 2018 | Weaker growth in 2019 is partly attributed to a near-50% drop in the pace of growth in agriculture - 3.6% v 6% in 2018
To discuss how the above may affect your money transfer requirements, please contact your Currency Dealer at Heritage Pay on +44 (0) 207 117 2934.
None of the information in this article is, nor should be construed as financial advice. All foreign exchange transactions involve risk and you should always seek your own independent financial advice before entering into any foreign exchange transaction.
