Regulatory Alerts2008-06-16 | 1267503184Banking Circular No 5 of 2008 - Revision of Central Bank Rate (CBR)
The Central Bank of Kenya has raised the central bank rate (CBR) from 8.75% to 9.00% effective June 6, 2008, following a review of recent economic and financial developments by the Monetary Policy Committee (MPC). The rate will remain in effect until further notice, while all other aspects of open market operations remain unchanged.
BANKI KUU YA KENYA CENTRAL BANK OF KENYA .I '.
- -' Haile Selassie Avenue P. O. Box 60000 - 00200 Nairobi Kenya Telephone: 2860000 Telex: 22324 June 6, 2008 BANKINGCIRCULARNO.5 OF2008 TO: CHIEFEXECUTIVESOFCOMMERCIALBANKS r . IItI
Revisionofthecentralbankrate(Cbr'
Following a meeting of the Monetary Policy Commit~ee(MPC) on 5th June 2008, which reviewed recent economic and' firianci~1 developments and its implication for monetary policy, the Central Bank of Kenya has in accordance with Section36(4) of the Central Bank of Kenya 'Act adjusted the CBR from 8.75 percent to 9.00 percent, with effect from 6th June 2008. The rate will remain operational until further notice.
All the other aspectson the openmarketoperations(OMO)remainunchanged.
~. MJ-GERALDA. NYAOMA DIRECTOR. BANKINGSERVICESDEPARTMENT