JUST IN: KBA Urges Banks to Respond Swiftly to CBK’s Rate Cuts and Lower Loan Costs for Consumers 

  The Kenya Bankers Association (KBA) has confirmed that several banks have started reducing loan interest rates, effective this December. This announcement follows a series of recent monetary adjustments by the Central Bank of Kenya (CBK) aimed at easing borrowing costs for consumers and businesses. In a statement issued on Sunday, December 8, 2024, KBA noted that select banks have already begun notifying their customers about the reduction in loan rates. According to KBA Chairman John Gachora, this reduction will occur progressively, aligning with the recent drop in the benchmark lending rate. “Individual banks are issuing the requisite notices to customers
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