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"content": "the CBK rate is set at 18 per cent today--- the Monetary Policy Committee sat the other day, they looked at issues and said: “Fine, inflation is going down.” They said the Kenyan Shilling was stabilizing but they were not reducing the CBK rate. They were saying that they were going to give it a month or two to see how the economy would perform. If we were to have a CBK rate that determines the fluctuation of interest rate, the CBK Monetary Policy Committee would be more concerned about the prevailing CBK rate at any one given time. They would be coming to answer to a Committee of this House as to why the CBK rates are high and they would have to provide solutions as to how they can bring it down to zero per cent, so that the borrowing in this country cannot go beyond 4 per cent and that would be the rationale."
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