THE Central Bank yesterday sought to soak up Sh4 billion in excess liquidity using repurchase agreements (repo). The bank has regularly mopped up liquidity since early last year to support the shilling against the dollar. The shilling was flat yesterday, with traders saying the currency could weaken in coming sessions as commercial banks respond to a base rate cut by cutting their loan rates. The shilling was posted at 86.65/75 to the dollar at 0731 GMT, the same level it closed at on Friday...
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