2015-01-15 | 1900193350

Banking Circular No 1 of 2015 - Operationalizaton of the Kenya Banks' Reference Rate (KBRR)

The Central Bank of Kenya has revised the Kenya Banks' Reference Rate (KBRR) from 9.13% to 8.54% to enhance transparency in credit pricing and improve the transmission of monetary policy signals into changes in banks' lending rates. All banks and mortgage companies in Kenya must use the KBRR as the base rate for pricing flexible-rate loans, with the expectation that their lending rates remain as close as possible to the KBRR. These changes are effective from January 14, 2015, until the next review in July 2015, unless market conditions change drastically earlier.

Kenya

Central Bank of Kenya

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