Regulatory Alerts2009-11-26 | 1248587102Banking Circular No 9 of 2009 - Review of CBR Rate
The Central Bank of Kenya has informed commercial banks of a downward review of the Central Bank Rate (CBR) by 75 basis points, from 7.75% to 7.00%, effective immediately. This decision was made by the Monetary Policy Committee on November 24, 2009, and communicated to all chief executives of commercial banks. The letter, sent via postal mail and telex, highlights the importance of monetary policy and its impact on the banking sector.
KUU YA KENYA P.O. Box 60000 Nairobi Ke Telephone 226431 Telex 22324 25 November 2009 BANKING CIRCULAR NO. 9 OF 2009 TO: ALL CHIEF EXECUTIVES OF COMMERCIAL BANKS REVIEW OF CENTRAL BANK RATE (CBR) The Central Bank of Kenya wishes to inform all commercial banks that the Monetary Policy Committee at its meeting held on November 24, 2009 reviewed the CBR downwards by 75 basis points from 7.75 per cent to 7.00 per cent.
The change takes effect immediately.
DIRECTOR, BANKING SERVICES DEPARTMENT