Banks begin to lower cost of credit amid Treasury pressure

NCBA Bank headquarters Upper hill Nairobi. [File, Standrda]

Commercial banks have started lowering lending rates following a push by the government for lenders to pass to Kenyans the benefits of cheap loans.

This follows the lowering of the Central Bank Rate (CBR) to 12 per cent early this month, which the Central Bank had hiked to a high of 13 per cent as it sought to bring down the inflation rate.

NCBA yesterday said it had lowered...