Regulatory Alerts2016-08-12
Banking Circular No 2 of 2016 - Review of Central Bank Rate (CBR)
On May 24, 2016, the Central Bank of Kenya's Monetary Policy Committee (MPC) reduced the Central Bank Rate (CBR) by 100 basis points to 10.50% from 11.50%. This adjustment took immediate effect and subsequently, overnight borrowing from the Central Bank of Kenya Overnight Window would be at 16.50%.
May 24, 2016 elephone: 2860000. F.
BANKING CIRCULAR NO 2 OF 2016 TO: ALL CHIEF EXECUTIVES OF COMMERCIAL BANKS REVIEW OF CENTRAL BANK RATE (CBR) The Monetary Policy Committee (MPC) of the Central Bank of Kenya at its meeting held on May 23, 2016 reviewed the CBR downwards by 100 basis points to 10.50 per cent from 11.50 per cent. The adjusted rate takes effect immediately.
Following the rate adjustment, borrowing from the Central Bank of Kenya Overnight Window will be at 16.50 per cent.
Lesiit Director, Banking Services NPS & Risk Management Department