The Kenya Bankers Association (KBA) wants a freeze on further monetary policy tightening by the Central Bank of Kenya (CBK) in the wake of a rise in the stock of bad loans for the fifth straight month to a record Sh635.8 billion as of the end of November.
The apex bank December raised its Central Bank Rate (CBR) from 10.5 percent to 12.5 percent—the highest in 11 years and will be having another meeting next week Tuesday with a cut least likely, especially as the shilling continues to weaken against the dollar.
