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Capping interest rates dangerous, says Central Bank of Kenya boss

Dr Patrick Njoroge, Governor Central Bank of Kenya. [PHOTO; WILBERFORCE OKWIRI/STANDARD]

The Central Bank of Kenya (CBK) has opposed a proposal by Parliament to cap interest rates terming it as a ‘dangerous development’.

While addressing journalists at his monthly press conference yesterday, CBK Governor Patrick Njoroge said the regulator is concerned that if the law sees the light of the day, it would have a negative effect on the economy.

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