NAIROBI: Kenya’s central bank sought to mop up 20 billion shillings ($195.79 million) from the market on Tuesday, saying there was excess liquidity.
The action, which usually involves the deployment of repurchase agreements (repos) and term auction deposits, is a departure from recent weeks, when the bank has been actively offering liquidity to banks using reverse repos. The bank said the interest rate offered by the mop-up would be determined competitively within a set ceiling.
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