Of Kenya's banks and rates

In what looked like a calculated act of tokenism, banks on Wednesday set aside Sh30 billion to lend to small and medium-sized enterprises at friendly rates and announced a 1 per cent reduction on interest rates.

This, the banks imagine, will assuage public anger over what many feel are exorbitant interest rates charged on loans. Two weeks ago, Parliament kicked up a storm after it passed a bill that if the President were to sign into law, could lead to the fixing of interest rates.