Regulatory Alerts2015-07-24
Added · Updated
Banking Circular No 7 of 2015 - Change of the Kenya Banks\' Reference Rate (KBRR)
The Kenyan central bank has raised its Central Bank Rate to 11.50% and introduced a 3-day repo effective immediately. Rates for repo bids will be at 11.50%, with successful Term Auction Deposits (TAD) bids attracting an interest rate of 14.00%. Borrowing from the Central Bank's Overnight Window now has a 17.50% interest rate. This announcement comes after decisions made by the Monetary Policy Committee, with this repo available only on Monday to Thursday every week.
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