Kenya: CBK Warns Banks Against High Lending Rates, Threatens Heavy Penalties

[Capital FM] Nairobi -- The Central Bank of Kenya (CBK) has warned commercial banks against failing to lower interest rates in line with monetary policy adjustments under the Risk-Based Credit Pricing Model (RBCPM). Appearing before the National Assembly Finance Committee, CBK Governor Kamau Thugge said the regulator has launched onsite inspections to ensure compliance after reducing the lending rate to 10.75 percent to spur business growth. Banks found to be maintaining excessive lending rates despite lower costs of funds will

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