Parliament yesterday gave the clearest indication that repealing the one-year-old interest rate capping law will not be a walk in the park, putting Kenya’s fiscal and monetary policy makers on a collision course with the country’s development partners.
Members of Parliament told Central Bank of Kenya (CBK) governor Patrick Njoroge that they will not allow commercial banks to work with the CBK and the International Monetary Fund (IMF) to have the law capping interest rates repealed.
