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{
    "id": 270496,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/270496/?format=api",
    "text_counter": 383,
    "type": "speech",
    "speaker_name": "Mr. Okemo",
    "speaker_title": "",
    "speaker": {
        "id": 198,
        "legal_name": "Chrysanthus Barnabas Okemo",
        "slug": "chrysanthus-okemo"
    },
    "content": "Mr. Speaker, Sir, the inter-bank rate is determined by demand and supply in the inter-bank market; that is, lending and borrowing. Nonetheless, the discount window is determined by the Central Bank rate plus a penalty. I would like hon. Langat to listen. In October, the CBK rate was increased to 11 per cent. So, begin looking at that table and look at the discount window rate and you will see that it is above 11 per cent. You will see the corresponding table; you will see that the discount rate from November up to December was 16.5 plus the penalty. If you look at the CBK rate in December, at the beginning of December it was 18 per cent. So, if you look at the discount rate, the interest rate which was being charged there is 18 plus the penalty because it is actually 22.5, then it comes to 24 per cent. That is what it is right up to today. So, what I am saying is that the interest rate charged in inter-bank market and interest rate charged in the discount market are two different things."
}