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Governor Central bank Of Kenya Dr.Patrick Njoroge speaking during the launch of inter-agency guidelines on cooperation and collaboration in investigation and prosecution of Terrorism and financing. [Wilberforce Okwiri, Standard]
Borrowers are staring at expensive loans after the Central Bank of Kenya (CBK) increased its benchmark lending rate by 75 basis points to 8.25 per cent.
The Monetary Policy Committee (MPC) - the highest decision-making organ of CBK - cited a persistent rise in prices of goods and services and the elevated global risks and their potential impact on the domestic economy, as some of the major reasons for tightening the supply of money.
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