Nairobi, Aug. 3 -- Commercial banks expect the Central Bank of Kenya (CBK) to keep its benchmark rate unchanged at 8.75 percent at its policy meeting next week amid ongoing uncertainty in the Middle East, which has kept the apex bank on edge over inflation expectations.

The projection by the banking sector lobby-the Kenya Bankers Association (KBA)-is anchored on continued private sector credit growth even as inflation continues to run above CBK's sweet spot of 5 percent.

July inflation rate rose to 6.5 percent from 6.4 percent, representing the second consecutive month where the change in consumer prices has run above the 5 percent midpoint from elevated transport costs.

Private sector credit growth neared double digits in May 2026 to ...