Economics
Kenya’s President Rejected Rate-Cap Bill, Central Bank Head Says
- Kenyatta sent Finance Bill back to parliament, Njoroge says
- Interest-rate caps will be overturned ‘very soon’: governor
This article is for subscribers only.
Kenya’s president rejected a bill that seeks to retain caps on interest rates that banks can charge on loans, paving the way for the removal of a law that’s been choking the economy, central bank Governor Patrick Njoroge said.
President Uhuru Kenyatta sent the Finance Bill back to parliament and won’t sign it as long as it provides for interest-rate limits, Njoroge said in an interview Wednesday in Washington.