Kenyan Lenders Push Central Bank to Clarify Rate-Cap Law

  • Banks proactively cutting loan costs, may adjust further
  • Central bank gives lenders until Sept. 14 to reduce loan rates

Kenyan lenders are seeking clarification from the central bank about which base rate they should use when determining loan costs, and may be forced to lower rates further if they’re advised the one they’re already using is incorrect, an industry lobby group said.

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