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The cost of credit is expected to increase further after policymakers of the Central Bank of Kenya have increased the base lending rate by 100 basis points to 10.50% pushing it to an 83-month high. The Monetary Policy Committee that is chaired by Central Bank governor Dr. Kamau Thugge says the decision was taken to check sustained inflationary pressures, increased risks to inflation outlook and elevated global risks.
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Cost of credit to increase as CBK raises base lending rate to 10.5%
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