Commercial banks expect a larger cut in the benchmark lending rate when the Central Bank of Kenya (CBK) holds its policy meeting early next month amid a quest for lower borrowing costs.
CBK’s previous 0.25 percent cut of the Central Bank Rate (CBR) to 12.75 percent from 13 percent in August has only resulted in negligible change in borrowing costs with only Equity Bank Kenya announcing a marginal trim to its base lending rate.
