According to the World Bank 2017 Doing Business Report, Kenya climbed 16 ranks to position 92 from 108 in 2016 and is the World’s third most reformed country. These developments reflect the ongoing reform effort by the Government to improve the business environment. Prudent monetary policy has kept inflation within the government target range, and maintained stability in the foreign exchange market.
Despite the significant pressures on food prices, inflation was 6.7 percent in November 2016 compared with 7.3 percent in November 2015, and 6.5 percent in October 2016. Non-food non-fuel inflation remains relatively stable. The CBK remains cognisant of the adverse effects of food and oil price shocks on inflation. Kenya’s external position remains resilient despite the weaker global growth prospects.