Regulatory Alerts2012-09-06
Banking Circular No 6 of 2012 - Review of the Central Bank Rate
The Central Bank of Kenya has announced a 350 basis point reduction in the Central Bank Rate (CBR) from 16.50% to 13.00%. This decision, made by the Monetary Policy Committee at their meeting on September 5th, 2012, will take immediate effect. The director of the Banking Services & Risk Management Department has communicated this update to all commercial bank chief executives.
BANKI KUU YA KENYA Haile Selassie A P.O. Box 60000 - 00200 Nairobi, Ker Telephone: 2860000, Fax: 34019 September 06, 2012 BANKING CIRCULAR NO. 6 OF 2012 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 5th September, 2012 reviewed the CBR downwards by 350 basis points from 16.50 per cent to 13.00 per cent.
The above changes take effect immediately.
Lesiit RECTOR, BANKING SERVICES & RISK MANAGEMENT DEPARTMENT