![The Central Bank of Kenya in Nairobi.](https://www.wazupnaija.com/wp-content/uploads/2023/12/mass-default-fears-as-cbk-loan-rate-hits-11-year-high.png)
The Central Bank of Kenya in Nairobi.
The Central Bank of Kenya (CBK) has increased the benchmark lending rate to levels last seen 11 years ago to curb inflation and support the battered shilling, elevating the risk of loan defaults for individuals and businesses.
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