Impact of interest rate cap still unclear – Kenyan governor
Not enough data on interest caps to influence MPC decision, says Njoroge
Current data following the introduction of interest rate caps on lending and deposits is "inadequate" to allow a "conclusive analysis" of their impact on monetary policy, the governor of the Central Bank of Kenya has said.
On November 28, the central bank's monetary policy committee voted to leave rates on hold at 10%. In a statement announcing the decision, Patrick Njoroge said the bank would continue to "closely" monitor developments on rate caps in order to collect more "conclusive
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