Kenya is set to introduce a new reference lending rate for commercial banks in the next two months, in a move meant to bring down the cost of credit and boost private investment.
The formula for the new Kenya Banks Reference Rate (KBRR) is expected to reduce the weight government borrowing has in calculating the reference rate. A third parameter — the interbank rate — will be brought into the equation while the 91-day Treasury Bill rate will be retained. Read more. Source | East African