CBK has jumped on the opportunity presented by the appeal to argue that the law is interfering with its mandate. We have had meetings and i expect that we will continue,” Dr Njoroge told reporters during a press briefing. With regard to the interest caps, Dr Njoroge hopes the CBK will be allowed to join the appeal. The MPC on Wednesday discussed the rate cap ruling, stressing that interest rate ceiling constrains the formulation, conduct and effectiveness of the monetary policy. “Further, these interest rate caps have hampered access to credit by growth sectors, particularly Micro Small and Medium Enterprises,” Dr Njoroge said.

Source: Standard Digital March 28, 2019 21:04 UTC