The recent decision by the Central Bank of Kenya (CBK) to lower its *benchmark rate* from *12.75%* to *12%* has led to a reduction in lending rates across major banks; For new loans it takes effect immediately and for existing one from March 1st, 2025. * Equity Bank(17.39% - 14.39%) * KCB Bank(15.6% - 14.6%) * Co-op Bank(16.5% - 14.5%) * Absa (17.5% - 16.5%) *Effects of lowering its benchmark rate:* 1. Making credit more affordable to individuals and businesses. 2. MMF rates expected to drop. 3. More accessible credit.