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2015-07-08 | 740424283

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Banking Circular No 7 of 2015 - Change of the Kenya Banks' Reference Rate (KBRR)

The Central Bank of Kenya (CBK) has revised the Kenya Banks' Reference Rate (KBRR) from 8.54% to 9.87%, effective July 7, 2015. All banks and mortgage finance companies are required to use the KBRR as the base rate for pricing their flexible-rate loans. The CBK will work closely with banks and stakeholders to ensure a smooth transition and to disseminate information about the KBRR framework to the public.

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