World Bank trims Kenya growth forecast for 2015 and 2016

The World Bank said on Thursday it had trimmed Kenya's growth forecast for this year and 2016, saying east Africa's biggest economy was facing headwinds from currency volatility and tighter monetary policy. The World Bank put 2015 growth at 5.4 percent, lower than a previous estimate of 6 percent, and forecast the economy would expand 5.7 percent in 2016, down from 6.6 percent. Kenya's shilling has lost 14 percent against the dollar this year and interest rates have climbed by 300 basis points.