Regulatory Alerts2012-09-06 | 1549328975Banking Circular No 6 of 2012 - Review of the Central Bank Rate
The Central Bank of Kenya has informed commercial banks that the Monetary Policy Committee has lowered the Central Bank Rate by 350 basis points from 16.50% to 13.00% effective immediately. This decision was communicated to all chief executives of commercial banks on September 6, 2012, in Banking Circular No. 6 of 2012.
BANKI KUU YA KENYA Haile Selassie A P.O. Box 60000 - 00200 Nairobi, Ker Telephone: 2860000, Fax: 34019 September 06, 2012 BANKING CIRCULAR NO. 6 OF 2012 TO: ALL CHIEF EXECUTIVES OF COMMERCIAL BANKS REVIEW OF THE CENTRAL BANK RATE (CBR) The Central Bank of Kenya wishes to inform all Commercial Banks that the Monetary Policy Committee (MPC) at its meeting held on 5th September, 2012 reviewed the CBR downwards by 350 basis points from 16.50 per cent to 13.00 per cent.
The above changes take effect immediately.
Lesiit RECTOR, BANKING SERVICES & RISK MANAGEMENT DEPARTMENT