Stock adjustment, changing risk profile in the country and arbitrage process all work to warn us to do nothing when portfolio flows drive either securities markets or the economy. The shilling appreciated following increased capital inflows for the Safaricom IPO and depreciated as investors took profits and exited the stock market – a management failure in the IPO process.
We have detailed this in the press release of the Monetary Policy Committee (MPC) of November 2008. We provide Monetary Policy Committee press releases to share information and even show how to process the information. B. Monetary policy decisions  Inflation continues to be a challenge but expectations are that it will come down to its target level in 2009 of 5 percent.