Regulatory Alerts2013-05-08 | 1585866487Banking Circular No 3 of 2013 - Review of the Central Bank Rate (CBR)
The Central Bank of Kenya has informed commercial banks that the Monetary Policy Committee has lowered the Central Bank Rate by 100 basis points to 8.50%. This change is effective immediately and was communicated to all chief executives of commercial banks.
BANKI KUU YA KENYA Haile Selassie A P. O. Box 60000 - 00200 Nairobi, Ken Telephone: 2860000, Fax: 3401 May 8, 2013 BANKING CIRCULAR No. 3 OF 2013 TO: ALL CHIEF EXECUTIVES OF COMMERCIAL BANKS REVIEW OF THE CENTRAL BANK RATE (CBR) The Central Bank of Kenya wishes to inform all Commercial Banks that the Monetary Policy Committee (MPC) at its meeting held on 7th May, 2013 reviewed the CBR downwards by 100 basis points from 9.50 per cent to 8.50 per cent.
The above changes take effect immediately.
MARK L. LESIIT DIRECTOR, BANKING SERVICES, NPS & RISK MANAGEMENT