Regulatory Alerts2012-07-09 | 915373064Banking Circular No 4 of 2012 - Review of the Central Bank Rate
The Central Bank of Kenya lowered the Central Bank Rate (CBR) by 150 basis points from 18.00% to 16.50% effective immediately as of July 6th, 2012. This decision was made by the Monetary Policy Committee (MPC) during their meeting on July 5th, 2012. The letter communicating this decision was sent to all chief executives of commercial banks in Kenya.
BANKI CENTRAL KUU YA BANK OF KENYA KENYA Haile Selassic Avenue P. O. Box 60000 - 00200 Nairobi, Kenya Telephone: 2860000, Fax: 340192 6th July, 2012 BANKING CIRCULAR NO. 4 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 July, 2012 reviewed the CBR downwards by 150 basis points from 18.00 per cent to 16.50 per cent.
The above changes take effect immediately.
Lesiit Mark L DIRECTOR, BANKING SERVICES & RISK MANAGEMENT DEPARTMENT