Regulatory Alerts2016-08-12 | 1562938113Banking Circular No 2 of 2016 - Review of Central Bank Rate (CBR)
The Central Bank of Kenya lowered the Central Bank Rate by 100 basis points to 10.50% from 11.50% at its Monetary Policy Committee meeting on May 23, 2016. This change took effect immediately, and as a result, borrowing from the Central Bank of Kenya Overnight Window will be at 16.50%. This information was communicated to the chief executives of commercial banks in a banking circular issued by the Director of Banking Services, NPS & Risk Management Department.
May 24, 2016 elephone: 2860000. F.
BANKING CIRCULAR NO 2 OF 2016 TO: ALL CHIEF EXECUTIVES OF COMMERCIAL BANKS REVIEW OF CENTRAL BANK RATE (CBR) The Monetary Policy Committee (MPC) of the Central Bank of Kenya at its meeting held on May 23, 2016 reviewed the CBR downwards by 100 basis points to 10.50 per cent from 11.50 per cent. The adjusted rate takes effect immediately.
Following the rate adjustment, borrowing from the Central Bank of Kenya Overnight Window will be at 16.50 per cent.
Lesiit Director, Banking Services NPS & Risk Management Department