Inflation Eases to 6.62 Percent in July

Secondary Market: Trading in the secondary market wound up the weak on a steady note as bond turnover rounded to KES 1.57 billion, supported by a sum of 15 bond deals transacted during the day. Investors displayed keen interest for bonds on the intermediate term segment. Inflation eased to 6.62% in July on account of falling transport costs.

Money Market: The interbank rate rose to a record high of 19.21% as liquidity in the money market continued to tighten. Volumes traded remained steady. The Kenyan Shilling (KES) registered extended losses against the US Dollar (USD) by 0.15% to 102.28 as data indicated that Kenya’s half year tourism arrivals were down 19%.

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