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Browsing: borrowing cost
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- (CBK) retained its base lending rate at a high of 13 per cent for the second time.
- This is the highest rate in 12 years, as the apex bank continues implementing monetary policies to manage stubborn inflation.
- According to CBK data, the country’s borrowers had defaulted on about $4.8 billion as of April, the highest in 18 years, due to the tough credit market.
Central Bank of Kenya (CBK) retains high interest rates
Central Bank of Kenya (CBK) retained its base lending rate at a high of 13 per cent for the second time driving the borrowing costs in Kenya to remain high for at least the next two months.This is the highest rate in 12 years, as the apex bank continues to implement monetary policies intended to manage the stubborn inflation, which slightly increased to 5.1 per cent last month from five per cent in April.
- The base-lending