Kenya Central Bank suspends bank reference rate

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Central Bank of Kanya has suspended the two-and -half-year-old load pricing formula as the Banks' Reference Rate, announced by the Monetary Policy Committee follow the enactmnet of the law capping interest rate.

According to the committee, in adaption of the new law capping interest rate, the CBK bi-monthly rate review decide to suspend the KBRR framework.

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Thr KBRR was introduced in July 2014, as the benchmark rate to set by the Central Bank for pricing all local currency loan or ctedit facilities.


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