2009-03-23

Banking Circular No 2 of 2009 - Adjustment of the Central Bank Rate (CBR)

The Monetary Policy Committee held a meeting on March 20, 2009, where they decided to adjust the Central Bank Rate (CBR) from 8.50 percent to 8.25 percent. This move aims to ease monetary policy and support economic activity, with the change effective immediately. J.A. Nyaoma, Director of Banking Services Department, notified all Chief Executives of Commercial Banks about this decision in Circular No. 2 of 2009.

Kenya

Central Bank of Kenya

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BANKI KUU YA KENYA P. O. Box 60000 Telephone: 2860000 7 March 23, 2009 BANKING CIRCULAR NO. 2 OF 2009 TO: ALL CHIEF EXECUTIVES OF COMMERCIAL BANKS ADJUSTMENT OF THE CENTRAL BANK RATE (CBR) The Monetary Policy Committee met on March 20, 2009.

Amongst other decisions, the committee agreed to review the CBR from 8.50 percent to 8.25 percent to signal easing of Monetary Policy to support economic activity.

The change takes effect immediately.

J A. NYAOMA DIRECTOR, BANKING SERVICES DEPARTMENT