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Digital News

WB On Global Economic Report

By Standard Digital | Mar. 19, 2010

The World Bank has taken a position on the cost of credit in the country that will be most welcomed within the banking industry, but likely to upset consumers and the central bank of Kenya. The bretton woods institution says kenya’s interest rate spreads, the difference between bank lending rates and the interest they pay on deposits, are comparable to those of other developing countries. the central bank of kenya has been vocal in advocating for lower interest rates so as to encourage borrowing both for consumption and investment, and spur faster economic growth; -- but banks have largely ignored this appeal.

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