Kenya’s president has approved a “popular but unwise” cap on bank lending rates — Quartz

Kenyan president Uhuru Kenyatta has signed into law a cap on commercial lending rates that economists, banking insiders, and other government officials say will only hurt the country. The law caps commercial bank lending at 4 percentage points above the central bank’s benchmark rate, which is currently 10.5%. “I have consulted widely and it is…

via Kenya’s president has approved a “popular but unwise” cap on bank lending rates — Quartz

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