Manufacturers fault review of key lending rate

CBK's Monetary Policy Committee last month raised the Central Bank Rate by 75 basis points to 9.5 per cent from 8.75 to tame soaring inflation and a weakening shilling. [File, Standard]

Manufacturers want the government to cushion businesses against the rising cost of borrowing following the recent upward review of the Central Bank's benchmark lending rate.

Kenya Association of Manufacturers (KAM) said inflation should not be the only consideration in reviewing the key rate.