Regulatory Alerts2009-03-23 | 867965131Banking Circular No 2 of 2009 - Adjustment of the Central Bank Rate (CBR)
The Central Bank Rate (CBR) in Kenya was adjusted from 8.50% to 8.25% on March 20, 2009, by the Monetary Policy Committee, signaling a relaxation of Monetary Policy to encourage economic activity. This change took immediate effect and was communicated to all commercial bank executives.
BANKI KUU YA KENYA P. O. Box 60000 Telephone: 2860000 7 March 23, 2009 BANKING CIRCULAR NO. 2 OF 2009 TO: ALL CHIEF EXECUTIVES OF COMMERCIAL BANKS ADJUSTMENT OF THE CENTRAL BANK RATE (CBR) The Monetary Policy Committee met on March 20, 2009.
Amongst other decisions, the committee agreed to review the CBR from 8.50 percent to 8.25 percent to signal easing of Monetary Policy to support economic activity.
The change takes effect immediately.
J A. NYAOMA DIRECTOR, BANKING SERVICES DEPARTMENT