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Shilling predicted to strengthen further

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Consumer spending set to increase as shilling rebounds. Last month the currency gained 4.4pc against the dollar. [Elvis Ogina, Standard]

The shilling is predicted to undergo market correction giving consumers more spending power.

An analysis by Stears attributes the correction to tightening fiscal measures by the Central Bank of Kenya (CBK) and liquidity from the International Monetary Fund injected into the National Treasury as loans.

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