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{
    "id": 952280,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/952280/?format=api",
    "text_counter": 596,
    "type": "speech",
    "speaker_name": "Kiambu, JP",
    "speaker_title": "Hon. Jude Njomo",
    "speaker": {
        "id": 1784,
        "legal_name": "Jude L. Kangethe Njomo",
        "slug": "jude-l-kangethe-njomo"
    },
    "content": "It is worth noting that the National Treasury had recommended the removal of interest rate caps. I do not know whether they are in touch with the public. If you go out there, everybody wants the interest rate cap to remain because of what they have gone through with the banks. If banks were charging us an interest rate of 24 per cent when our economy was a bit stable, can you imagine what they would be charging today when we have a shaky economy? If we are not protected by this law, I am sure by now interest rates would be going to over 50 per cent. I support what the Departmental Committee on Finance and National Planning has done. I hope the Bill will become law within the required time."
}