NAIROBI (CU)_Just when we though the worst effect of the pandemic are behind us, China one again reported a spike in COVID-19 infections. This, along with the ongoing conflict between Russia and Ukraine are putting a damper on the global economic outlook, according to the Monetary Policy Committee (MPC) of the Central Bank of Kenya (CBK). Nevertheless, the base lending rate was retained at seven per cent for the 13th consecutive time as the apex bank cited improved economic performance in the country as the reason behind its decision.
According to the CBK, the pandemic, together with heightened geopolitical tensions and volatile commodity prices mean that the global economic outlook remains uncertain. The central bank noted that prices of…
