Africa-Press – Kenya. Central Bank of Kenya’s Monetary Policy Committee has revised the base lending rate from 12.5% to 13%.
This now means credit will be more costlier by a similar margin going forward.
The committee cited inflation and the exchange rate as the reasons.
The lending rate is the bank rate that usually meets the short- and medium-term financing needs of the private sector.
This rate is normally differentiated according to the creditworthiness of borrowers and the objectives of financing.
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