Regulatory Alerts2018-03-20
Banking Circular No. 1 of 2018
On March 19th, 2018, the Monetary Policy Committee (MPC) of Kenya's Central Bank decided to reduce the Central Bank Rate (CBR) by 50 basis points, bringing it down from 10.00% to 9.50%. This change took effect immediately and consequently, borrowing from the Central Bank Window will be at a rate of 15.50%. The decision was made by the MPC following their meeting on that date.
BANKI KUU YA KENYA Haile Selassie Avenu P.O. Box 60000 - 00200 Nairobi, Kenya Telephone: 2860000, Fax: 340192 March 19, 2018 BANKING CIRCULAR No. 1 OF 2018 TO: ALL CHIEF EXECUTIVES OF COMMERCIAL BANKS
Review Of The Central Bank Rate (Cbr)
The Monetary Policy Committee (MPC) of The Central Bank of Kenya on its meeting held on March 19, 2018 reviewed the CBR downwards by 50 basis points to 9.50 per cent from 10.00 percent. The adjusted rate takes effect immediately. Following the rate adjustment, borrowing from the Central Bank Window will be at 15.50 per cent.
Mwenda K. Marete Ag. Director, Banking Services, NPS & Risk Management Department