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Despite the cut in the Central Bank Rate by 75 basis points last week. It is unlikely banks will lower interest rates that easily, after all they have long claimed that the CBR does not reflect the real picture of the market and prefer to use the Treasury Bill (T-Bills) rate as a yardstick.
Yet, everything indicates that rates should fall further. For the last two years, the economy has been in recovery mode, yet interest rates on loans remain high.
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