Regulatory Alerts2013-01-11 | 1589790284Banking Circular No 1 of 2013 - Review of the Central Bank Rate
The Central Bank of Kenya lowered the Central Bank Rate (CBR) by 150 basis points from 11.00% to 9.50% effective January 10, 2013. This decision was communicated to all Commercial Banks via a circular issued by the Banking Services, NPS & Risk Management Department. The CBR decrease is expected to influence lending rates and stimulate economic activity.
Telephone: 2860000, F: January 11, 2013 BANKING CIRCULAR No. 01 OF 2013 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 10th January, 2013 reviewed the CBR downwards by 150 basis points from 11.00 per cent to 9.50 per cent.
The above changes take effect immediately.
BANKING SERVICES, NPS & RISK MANAGEMENT DEPARTMENT