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The cost of bank loans is set to worsen from next month following CBK's move to hike the benchmark central lending rate from the previous 8.75% held in November last year to 9.5%. This could see the private sector lending decline further. The adjustment by CBK is aimed at matching the inflation rate which hit 9.2% in February. At the same time, CBK Governor Dr. Patrick Njoroge says the cost of living could be further elevated in coming months with the prices of agricultural produce set to shoot even further.
CBK raises lending rate from 8.75% to 9.5%
- 19 Apr 2024 - As Kenyans mourn the passing of Chief of Defence Forces General Francis Ogolla who died in a tragic helicopter crash on Thursday, two families from Kirinyaga are also grieving the loss of their kin who were among the nine military personnel killed…
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- 19 Apr 2024 - Take our quiz to test how well you understood the week's most important stories.
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- 19 Apr 2024 - This regulation is provided if a person decides to withdraw his savings or if he's not allocated a housing unit.
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