KBA Urges CBK to Hold Rate at 8.75% Amid Fuel Price Concerns

The Kenya Bankers Association (KBA) has urged the Central Bank of Kenya (CBK) to keep the Central Bank Rate at 8.75% during the upcoming Monetary Policy Committee meeting. The KBA believes maintaining the rate will support private sector credit recovery and economic activity, despite inflation rising to 6.8% in September, driven mainly by food and transport costs. Economic growth reached 5.3% in the first quarter of 2026, supporting the call for monetary stability. Risks such as higher fuel and food prices, rising production costs, and El Niño rains are noted as potential threats to the recovery.