Kenya's central bank hikes interest rate to contain inflation

NAIROBI, June 26 (Xinhua) -- The Central Bank of Kenya (CBK) on Monday tightened the country's monetary policy by raising the interest rate by 1 percent citing sustained increased inflation.

Kamau Thugge, the CBK governor and the chairman of the Monetary Policy Committee (MPC), said the bank had increased the rate from 9.5 percent to 10.5 percent to "anchor inflation expectations."

"The committee noted th