The Central Bank of Kenya’s Monetary Policy Committee meets today for the first time since the Interest Rate Capping Bill was signed into law. “These would include…inefficiencies in the credit market… and undermining the effectiveness of monetary policy transmission,” said Citi Global Markets. CfC Stanbic Bank eased 2.53% to close at Sh77.00 and traded heavy volume [versus its moving average] of 1.232 million shares worth Sh94.865 million. CfC reported a 21.976% acceleration in half-year 2016, but that was before the interest rate Bill was signed into law. ARM which is surely a big beneficiary of the interest rate cap, firmed 1.96% to close at Sh26.00 and traded 602,100 shares.

Source: The Star September 19, 2016 23:48 UTC