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2011-07-28 | 48561906

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Banking Circular No 7 of 2011 - The Central Bank Rate and Cash Reserve Ratio

The Monetary Policy Committee decided to maintain the Central Bank Rate at 6.25% and adjust the Cash Reserve Ratio requirement to a weekly average of 4.75%, effective immediately. Commercial banks can deviate from the 4.75% ratio on a given day as long as the overall average for the week remains at that level; failure to maintain the average will result in penalties.

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