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Kimani Ichungwa says open to modification of commercial rate caps

Kimani Ichungwa

The chair of the Kenyan parliament’s influential budget committee said on Monday there was a case for altering a cap on commercial lending rates, blamed by the International Monetary Fund for sluggish credit growth to the private sector

Kimani Ichung‘wa said a removal of the floor on deposit rates would allow banks to negotiate with their customers and give the central bank some wiggle room.

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Related Topics

Interest rates IMF