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{
    "id": 277021,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/277021/?format=api",
    "text_counter": 857,
    "type": "speech",
    "speaker_name": "Mr. Mbadi",
    "speaker_title": "",
    "speaker": {
        "id": 110,
        "legal_name": "John Mbadi Ng'ong'o",
        "slug": "john-mbadi"
    },
    "content": "Mr. Temporary Deputy Chairman, Sir, this is something that has been in the public domain for quite sometime now. We are aware of what banks have been doing in this economy. Hon. Members, this is the right time to be with the people of Kenya; those middle class people who are paying high interest rates. We are not even hurting banks so much. What we are saying is: Yes, once the CBR rate has been set, if it is 20 per cent, we can allow you to go upwards of 24 per cent. I also want to say that this is the only country, probably in the world where the spread is so huge. The banks give us very low interest rates on deposits but charge us very high interest rates on loans. I do not need to belabour this point but just to ask my colleagues to support this amendment."
}