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{
    "id": 60422,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/60422/?format=api",
    "text_counter": 133,
    "type": "speech",
    "speaker_name": "Mr. Raila",
    "speaker_title": "The Prime Minister",
    "speaker": {
        "id": 195,
        "legal_name": "Raila Amolo Odinga",
        "slug": "raila-odinga"
    },
    "content": "Mr. Speaker, Sir, hon. Kombo was concerned about the weakening Shilling. I said that we are not going to allow the Shilling to go into a downward slide. The Government is very much seized of this matter and when the times come for intervention, it will definitely intervene, but that time has not arrived as yet. However, we are equally concerned about the gap between lending and deposit rates, which has been huge enough. The Governor of the Central Bank of Kenya has taken measures aimed at ensuring that banks do reduce these rates. This is because some of them are extortionate, with the gap being too huge. Recently, I had occasion, together with the President, to meet with the President of the Barclays Bank International and the issue we did raise with him was the different rates in terms of the lending and deposits. I want to assure the hon. Member and the House in general that the Government is seized of this matter and it is pushing it to ensure that the rates are in consonance with the practice all over the world."
}