The Kenya Bankers Association has called for a further reduction of the base lending rate by the Central Bank of Kenya ahead of next week's Monetary Policy Committee (MPC) meeting.
In a research note published on Thursday, August 7, the bankers observed that inflation remained stable, the exchange rate was steady, and global interest rates were easing.
With weak credit growth and slowing business activity, bankers emphasised an urgent need to cut the rate to support lending and stimulate economic recovery.
According to KBA, the country's inflation expectations remain well anchored within the target range, rising marginally to 4.1 per cent in July from 3.8 per cent in June.
