Borrowers are set to benefit after NCBA Bank Kenya Plc and KCB Bank Kenya Limited announced reductions in their base lending rates following the Central Bank’s latest policy move. The latest adjustments are expected to make borrowing cheaper for individuals and businesses, especially for those whose loan interest rates change with the Central Bank Rate
The CBK (Central Bank of Kenya) has made an official announcement regarding its monetary policy by cutting the CBR (central bank rate), by signing the new borrowing rate from 9.00% and 8.75%, respectively. This reduction is intended to give borrowers more relief due mainly to lower inflation rates, improved lending practices and the current lack