Inflation in June rises to 7.08% from 6.87% in May
Secondary Market: Secondary market trading stalled with no bond deals processed during Tuesday’s trading session.
Investors were constrained as liquidity in the money market remained tight. Inflation in June rose to 7.08% from 6.87% recorded in May as the CPI spiked on account of an increase in the Housing, Water, Gas & Electricity Index and Transport Index as a result of higher pump prices.
Money Market: The interbank rate held at 10.66%, marginally lower compared to previous days. The Kenyan Shilling traded with a weakening bias during Tuesday’s trading session as it recorded marginal losses against most international peers.
The softening of the KES may have been attributed to weak data, following the release of the Standard Chartered Business Sentiment Indicator (BSI) which fell to 58.6 in June from 66.9 in May; declining 12.4 per cent m/m.
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