Relief for borrowers as Central Bank of Kenya retains benchmark rate at 11.5pc

Bloomberg graph tracking performance of the shilling against US dollar.

Borrowers can look forward to cheaper loans following a decision taken by the Central Bank of Kenya (CBK) monetary committee to retain the benchmark rates at 11.50 per cent.

It was a widely anticipated outcome considering that the shilling had regained stability, allowing commercial banks lend more to individuals and businesses after cutting their lending rates.