Return on fixed deposits beat inflation for the first time in 15 months in July signifying higher rates the lenders are willing to pay savers for long-term deposits as they compete for funds between themselves, the government, and collective investment schemes.
Data released by the Central Bank of Kenya (CBK) reveals that banks paid customers an average of 8.1 percent for long-term deposits in July, surpassing inflation for the month which stood at 7.3 percent.
