Kenyans Brace for Expensive Loans as Banks Issue New Demands to CBK

Kenyans applying for loans could feel the impact through higher monthly repayments, while businesses seeking new financing may face higher interest rates...

✨ Key Highlights

The Kenya Bankers Association (KBA) is urging the Central Bank of Kenya (CBK) to increase the Central Bank Rate (CBR) at its upcoming Monetary Policy Committee (MPC) meeting on June 9, 2026, to combat rising inflation.

Headline inflation has surged to 6.7% in May 2026, up from 4.4% in March, largely due to increased global oil prices.
The Kenya Bankers Association (KBA), representing commercial banks, made the recommendation in a research note released on Thursday, June 3.
A potential rise in the CBR could lead to higher borrowing costs for consumers and businesses in Kenya.

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