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Interest rate cap on loans unlikely to be scrapped anytime soon

Post Bank headquarters banking hall on 16th September 2016. PHOTO: Wilberforce Okwiri

The interest rate cap on loans is unlikely to be scrapped anytime soon despite the Central Bank's latest hint that the law could be repealed.

According to international rating agency Fitch Ratings, the regulation capping interest rates at four per cent above the Central Bank Rate (CBR) - currently at 10 per cent - is likely to undergo a revision and not total scrapping.

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