I hope to be there tomorrow , share this From Horn of Africa November 2, 2011

“A bias toward further tightening is likely to tame inflationary pressure which is being driven by earlier easy access to credit,” Aly Khan Satchu, head of Rich Management, an investment adviser for wealthy individuals, said in a phone interview from Nairobi. “The recent rains will ease food availability with the possibility of inflation plateauing.”

Uganda’s currency rose as much as 1 percent to 2,584 per dollar today and was trading at 2,588 as of 12:11 p.m. in Kampala, paring its decline to 11 percent this year. Kenya’s shilling was trading 0.1 percent lower at 99.85 per dollar.
Tanzania, Rwanda

Kenya’s Monetary Policy Committee will publish its decision in an e-mailed statement tomorrow, while Uganda’s central bank will hold a press conference at 10:15 a.m. in Kampala.

Central bank governors from Kenya, Uganda, Tanzania, Rwanda and Burundi, which makes up the East African Community, agreed on Oct. 12 to coordinate their actions to tighten monetary policy and limit volatility in their currencies. Kenyan inflation reached 18.9 percent in October, while consumer prices surged 28.3 percent in Uganda in September.

“The worsening inflation profile calls for more decisive action from the Central Bank of Kenya,” Razia Khan, head of Africa economic research at Standard Chartered Plc, said in a note to clients. Kenya, Uganda and Nigeria, which raised its key lending rate by 2.75 percentage points to 12 percent on Oct. 10, have bucked a global trend by boosting borrowing costs to protect their currencies. Brazil, Turkey, Switzerland, Israel and Indonesia have cut borrowing costs since August to support their economies as a debt crisis in Europe threatens the global recovery.

Kenya’s economy contracted in the second quarter by a seasonally adjusted 4.6 percent as dry weather crimped agricultural production, which makes up a quarter of output in the world’s largest grower of black tea. Uganda’s central bank has lowered its economic growth projection for the year through June 2012 to 5 percent from 6 percent.

“The upward trend in inflation is expected to continue until the second quarter of next year due to a weaker shilling and food-supply constraints, hence a rate hike will be appropriate” in Kenya, Peter Wachira, senior investment manager at PineBridge Investments LLC’s East Africa unit, said in a phone interview from Nairobi.

It seems the overall performance of our low class community members is  not under discussion and the upward trend of inflation is added difficulty to livelihood anyway, these are the expected lack of sustainability to our segment of community which is disadvantaged will increase the suffering in the horn of Africa, as there is now.

Social Community Network/Information Coordinator,
Suba/Mbita-Kenya
'Aliving hope is desire' When it is socially lived!