The overnight cost of borrowing among commercial banks jumped to the highest point in the year-to-date a week ahead of the polls on reduced liquidity, official data shows.
The Central Bank of Kenya (CBK) has reported that banks were demanding an average of 9.22 per cent to lend to each other overnight by Wednesday last week, a rate higher than the price the government paid for the 91-day Treasury bills at 8.2 per cent during the auction last Thursday.
