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{
    "id": 269703,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/269703/?format=api",
    "text_counter": 514,
    "type": "speech",
    "speaker_name": "Mr. Mbadi",
    "speaker_title": "",
    "speaker": {
        "id": 110,
        "legal_name": "John Mbadi Ng'ong'o",
        "slug": "john-mbadi"
    },
    "content": "There are so many page 50s! So, I cannot tell you which one, unless you sit next to me. What I am saying is that there is a submission from the forex dealers, under item four. It says that there was a loose monetary policy of up to one per cent, which was a loophole that was used by greedy investors. That is a submission by a professional. Another submission says that there were gaps in the Monetary Policy Committee, and that the members of that committee did not understand the movement and the major drivers of exchange rate. Who is to blame for that? Mr. Deputy Speaker, Sir, on page 53, we have an observation from Stanbic Bank, as follows:- “The bank was not sure if the CBK’s Monetary Policy Committee did its work well.” These are professionals. I want to take you to another observation by Family Bank. What did they say? They said that the CBK increased the CBR in small figures even after it knew that the situation was going to deteriorate greatly. Another contribution says:- “The bank was concerned as to why the Governor of the CBK could not predict the fluctuations in the interest rate.”"
}