Bankers Urge CBK to Raise Central Bank Lending Rate to Ease Inflation

The Kenya Bankers Association (KBA) recommends a modest increase in the Central Bank Rate (CBR) at the upcoming Monetary Policy Committee meeting on June 9, 2026, to curb rising inflation. Inflation rose to 6.7% in May 2026 from 4.4% in March, driven by higher global oil prices due to geopolitical tensions in the Middle East. The move could raise borrowing costs for households and businesses already grappling with an economic slowdown.