Kenya eyes inflation rate of 5 pct by 2014/15

NAIROBI (Reuters) - Kenya plans to cut inflation to five percent by 2014/15 (July-June) through austerity measures to reduce its budget deficit, accompanied by a tight monetary stance, Finance Minister Uhuru Kenyatta said on Tuesday. Year-on-year inflation rose for 13 straight months to peak at 19.72 percent last November, before easing to 18.93 percent in December after the central bank raised rates aggressively and good rainfall pointed to an improvement in harvests. ...