Kenya parliamentary committee proposes retaining upper limit of lending rate cap -document

NAIROBI (Reuters) - A Kenyan parliamentary committee has proposed that the east African economy retains the upper limit of commercial lending rates at 4 percentage points above central bank rate, as passed into law in late 2016, a committee seen by Reuters on Friday showed.

In June Kenya's Finance Minister Henry Rotich proposed repealing the interest rate cap, a move cheered by bankers who had said the ceiling had hurt credit growth and access.

(Reporting by George Obulutsa; Editing by Maggie Fick)

2018-08-24 12:21:27

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