CBK spares borrowers higher costs as banks cut back loans

CBK Governor Kamau Thugge. [Boniface Okendo, Standard]

Borrowers have been spared the higher cost of loans after the Central Bank of Kenya (CBK) retained its benchmark signal rate at 10.50 per cent following Wednesday's Monetary Policy Committee (MPC) meeting.

In a statement, the CBK said the current monetary policy stance had reduced the threat of money-driven inflation.