Githae wants bank to lower rates
15 February 2012, 16:02
Nairobi – Acting Finance Minister Robinson Githae has
called on commercial banks to lower interest rates to allow for the
continued growth of the emerging middle class that has been hardest hit
by the rising rates.
Githae said he will open up talks with banks next week to formulate a
way of cutting rates ahead of Parliament’s debate on amending the
Finance Bill and the Banking Act.
“Members are telling me that if I want them to withdraw the
amendments to the Banking Act to cap interest rates, the banks must show
that they are determined to reduce interest rates,” he said.
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