Tuesday, January 29, 2019

MPC Retains CBR at 9 Percent

    January 29, 2019   No comments


The Monetary Policy Committee (MPC) on Monday meeting and for the fourth time retained the Central Bank Rate (CBR) at 9 percent since May last year.

Commercial banks regulated by the Central Bank of Kenya (CBK) are allowed to charge a maximum of 4 percent above CBR. This means the highest interest rate a bank can charge on a loan issued to a customer is 13percent.

The committee came to the conclusion after finding out that ;

  • Inflation remained stable month on month during the last quarter of 2018
  • Foreign exchange market remained stable 
  • Private sector credit grew during the whole of last 
  • Banking sector remained stable and resilient 
  • Economy picked up strongly in 2018

Advertisements

Mwabaya Katana

About Mwabaya Katana

Mwabaya is an experienced and talented finance content creator based in Kenya. He is the Founder of Loans Kenya Blog.

Previous
Next Post
No comments:
Write Comments