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Kenyan Regulator Says Rate Caps Complicates Monetary Policy
NAIROBI, Capital Markets in Africa: Kenya’s decision to introduce caps on commercial-lending rates is complicating monetary policy, Central Bank of Kenya Governor Patrick Njoroge said. “With the rate caps, it’s not clear which way to go,” Njoroge told reporters in the capital, Nairobi, on Wednesday, a day after the central bank cut its benchmark rate by 50 basis points to 10 percent. The limits on borrowing rates may result in a “perverse reaction” among banks and lead to riskier…
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