Interbank lending rates fall to 14-month low

The interbank money market from which banks extend loans to one another has seen rates drop to the lowest level in more than 14 months, attributed to the recent reduction of the Central Bank of Kenya (CBK) benchmark rate.

The interbank rate fell to 10.4998 percent on Thursday last week --the lowest level since December 2023-- on the back of the CBK cutting its key lending rate to 10.75 percent earlier this month from 11.25 percent previously.