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The fate of the rate cap law has now moved to Parliament after Treasury Cabinet Secretary Henry Rotich laid bare his plans to repeal it. Now, Members of Parliament remain borrowers’ only hope for cheap loans.
After months of speculation on whether Rotich would only reform the law or have it expunged, he has set the record straight preferring to get rid of the law. The law caps interest rates at 4 per cent above the Central Bank benchmark rate.
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