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More pain for borrowers as key lending rate hits seven-year high

The Central Bank of Kenya (CBK). [File, Standard]

It will now cost you more to service your loan or access a new one.

This is after the Central Bank of Kenya (CBK) raised its policy lending rate by 100 basis points to 10.50 per cent - the highest in seven years - in a bid to stem rising inflation and stabilise the weakened shilling.

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