Secondary Market: Trading in the secondary market continued to accelerate despite tight liquidity in the money market. Bond turnover multiplied to KES 3.15 billion on the back of 21 bond deals transacted. The Monetary Policy Committee met yesterday to review current market developments.
According to a Bloomberg survey of 12 economists, four forecast an increase in CBR to 13%, four to 12.5%, one predicts a 50 basis point rise and another a jump to 13.5%.
Money Market: The money market remained constrained, signaled by the interbank rate which rose to 20.44% as market players retained strong demand for borrowing from the money market. Meanwhile, the USDKES exchange rate strengthened by 0.47% to 101.30 (12:30pm GMT).
Upcoming Auctions
- 29th July 2015 – KES 3.0Bn 182 & KES 4.0BN 364-day T-bills
- 30th July 2015 – KES 1 Bn 91 day T-bills