Kenya: Banks Reduce Lending Rates

Nairobi — Banks continued to announce falls in their base lending rates yesterday, on the back of a sustained decline in the indicative rate on the 91-day Treasury Bill.

The interest on the short-term debt instrument continued on its downward slide last week, with the quotation during last week's auction at 6.115 per cent, some 37 basis points below the 6.481 per cent the previous week.

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