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{
    "id": 1544806,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1544806/?format=api",
    "text_counter": 439,
    "type": "speech",
    "speaker_name": "Sen. Tabitha Mutinda",
    "speaker_title": "",
    "speaker": null,
    "content": "Thank you, Mr. Speaker, Sir. I rise pursuant to Standing Order No.53 (1) to seek a Statement from the Standing Committee of Finance and Budget regarding the delayed response of commercial banks' lending rates to changes in the Central Bank Rates (CBR). In the Statement, the Committee should address the following- (1) The factors contributing to the delayed response of commercial banks' lending rates to changes in the CBR. (2) The steps being taken by the Central Bank of Kenya (CBK) to enhance the effectiveness of CBR as a monetary policy tool, ensuring that financial institutions adjust their lending rates in a timely manner without further action or any further delay or intervention from the CBK. (3) Recommendations on policies and practices that CBK could adopt from the Federal Reserve (FR) in the United States of America (USA), European Central Bank (ECB) and the Bank of England (BE) to ensure seamless economic adjustments in response to changes in the monetary policy. I thank you."
}