Kenya: Barclays Bank Sends Strong Signal by Cutting Its Lending Rate

Nairobi — You could soon be able to borrow at much lower interest rates, if the banking industry follows a trend set by Barclays Bank of Kenya on Wednesday when it cut its lending rate.

Barclays, the most profitable bank in the country, said it will be reducing its base rate from 15.75 per cent to 13.75 per cent effective May 1, 2010.

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