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Law Capping interest rates
Rank: Elder Joined: 7/26/2007 Posts: 6,514
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Cornelius Vanderbilt wrote:Angelica _ann wrote:Impunity wrote:Ericsson wrote:NIC bank at sh.35.
Banking stocks are recovering from the interest rates cap That's a fluke. ..real recovery will be seen in Q4,if at all. You will be left at the stage as all mbuses take off one by one  yeah.i think all the bad news has been factored in and recovery is in progress. “Irrational exuberance” is a phrase used by the then-Federal Reserve Board chairman, Alan Greenspan, in a speech given at the American Enterprise Institute during the Dot-com bubble of the 1990s. The phrase was interpreted as a warning that the market might be somewhat overvalued. Business opportunities are like buses,there's always another one coming
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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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Someone pls explain this to me. Its not logical is it? Business opportunities are like buses,there's always another one coming
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Rank: Chief Joined: 5/9/2007 Posts: 13,095
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Am told NIC have shown 32 managers the door. 
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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Was Coop bank always like this?Pre the cap rating thingy?Checking for balance via USSD *667# is 35 bob plus 3.50 excise duty...Daylight robbery. possunt quia posse videntur
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Rank: Member Joined: 6/6/2016 Posts: 165 Location: Nairobi
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maka wrote:Was Coop bank always like this?Pre the cap rating thingy?Checking for balance via USSD *667# is 35 bob plus 3.50 excise duty...Daylight robbery. Even KCB which offered free balance inquiry on their mobile app got rid of it..these banks are now looking in every corner for any loose coins
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Rank: Elder Joined: 11/5/2010 Posts: 2,459
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snifadog wrote:maka wrote:Was Coop bank always like this?Pre the cap rating thingy?Checking for balance via USSD *667# is 35 bob plus 3.50 excise duty...Daylight robbery. Even KCB which offered free balance inquiry on their mobile app got rid of it..these banks are now looking in every corner for any loose coins Wait a minute. For about a month now, the app has not been working and am forced to use *522# . Kumbe ni wizi ?
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Rank: Elder Joined: 3/19/2010 Posts: 3,504 Location: Uganda
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Barclays called to offer me a loan on my un utilized credit on my credit card at 1. 15% per month, a good deal by all standards, wasn't interested cos I didn't have plans for the loan punda amecheka
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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newfarer wrote:Barclays called to offer me a loan on my un utilized credit on my credit card at 1. 15% per month, a good deal by all standards, wasn't interested cos I didn't have plans for the loan Assuming there are no other hidden charges. In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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washiku wrote:Am told NIC have shown 32 managers the door. possunt quia posse videntur
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Rank: Elder Joined: 6/23/2009 Posts: 13,554 Location: nairobi
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maka wrote:washiku wrote:Am told NIC have shown 32 managers the door. Even with job cuts, the smaller banks will fold. Think about it, customer numbers remain the same but more work done by fewer staff, fatigue checks in, customer service standards drop, clients flee to the bigger banks with more personnel
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Veteran Joined: 11/21/2006 Posts: 1,590
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Now imagine if CBK was forced to raise interest rates due to Ksh weakening. Uhuru reminds me of MOi in many ways Sehemu ndio nyumba
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Rank: Elder Joined: 3/19/2010 Posts: 3,504 Location: Uganda
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Let's just say the economy is just doing badly, poor leadership and corruption killing businesses.the banks blaming rates cap yet the rate capping started only 16 days to close of quarter 3 You think these billions in scandals have no effect on businesses? punda amecheka
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Rank: Veteran Joined: 9/18/2014 Posts: 1,127
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Mainat wrote:Now imagine if CBK was forced to raise interest rates due to Ksh weakening.
Uhuru reminds me of MOi in many ways That day is fast approaching. The main purpose of the stock market is to make fools of as many people as possible.
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Rank: New-farer Joined: 10/14/2016 Posts: 25 Location: Nairobi
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lochaz-index wrote:Mainat wrote:Now imagine if CBK was forced to raise interest rates due to Ksh weakening.
Uhuru reminds me of MOi in many ways That day is fast approaching. This one you are right and its scary. Now consider a scenario where the US fed raises its interest rate, the dollar strengthens, other currencies weaken and we have that huge dollar denominated debt. Interest rates will be raised to stem kes devaluation and we shall grind to a halt.
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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Yowel wrote:lochaz-index wrote:Mainat wrote:Now imagine if CBK was forced to raise interest rates due to Ksh weakening.
Uhuru reminds me of MOi in many ways That day is fast approaching. This one you are right and its scary. Now consider a scenario where the US fed raises its interest rate, the dollar strengthens, other currencies weaken and we have that huge dollar denominated debt. Interest rates will be raised to stem kes devaluation and we shall grind to a halt. Anarchy.... possunt quia posse videntur
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Rank: Veteran Joined: 8/10/2014 Posts: 977 Location: Kenya
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lochaz-index wrote:Mainat wrote:Now imagine if CBK was forced to raise interest rates due to Ksh weakening.
Uhuru reminds me of MOi in many ways That day is fast approaching. Ksh has already dropped twice to 102 in the past 5 days and CBK is selling dollars to keep it up. They cant keep doing that for long
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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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watesh wrote:lochaz-index wrote:Mainat wrote:Now imagine if CBK was forced to raise interest rates due to Ksh weakening.
Uhuru reminds me of MOi in many ways That day is fast approaching. Ksh has already dropped twice to 102 in the past 5 days and CBK is selling dollars to keep it up. They cant keep doing that for long Something's going to have to give: either exchange or interest rates. I suspect CBK will let interest rates go up given they were opposed to the myopic rate cap anyways. This 6%(?!) growth will become 2%...remember the SGR eating ends soon too. Business opportunities are like buses,there's always another one coming
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Rank: Veteran Joined: 11/21/2006 Posts: 1,590
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KulaRaha wrote:watesh wrote:lochaz-index wrote:Mainat wrote:Now imagine if CBK was forced to raise interest rates due to Ksh weakening.
Uhuru reminds me of MOi in many ways That day is fast approaching. Ksh has already dropped twice to 102 in the past 5 days and CBK is selling dollars to keep it up. They cant keep doing that for long Something's going to have to give: either exchange or interest rates. I suspect CBK will let interest rates go up given they were opposed to the myopic rate cap anyways. This 6%(?!) growth will become 2%...remember the SGR eating ends soon too. Actually, the interest cap will still be a problem because of the 70% floor, but also interest rates would need to go up to maybe kitu 14% for banks to go back to an even position Sehemu ndio nyumba
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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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Mainat wrote:KulaRaha wrote:watesh wrote:lochaz-index wrote:Mainat wrote:Now imagine if CBK was forced to raise interest rates due to Ksh weakening.
Uhuru reminds me of MOi in many ways That day is fast approaching. Ksh has already dropped twice to 102 in the past 5 days and CBK is selling dollars to keep it up. They cant keep doing that for long Something's going to have to give: either exchange or interest rates. I suspect CBK will let interest rates go up given they were opposed to the myopic rate cap anyways. This 6%(?!) growth will become 2%...remember the SGR eating ends soon too. Actually, the interest cap will still be a problem because of the 70% ceiling, but also interest rates would need to go up to maybe kitu 14% for banks to go back to an even position If CBR starts going up...maybe to 12%, we may see some respite. But then CBK will have to tackle this slowdown in credit growth....they are so stuck! Business opportunities are like buses,there's always another one coming
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Rank: New-farer Joined: 10/14/2016 Posts: 25 Location: Nairobi
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Interesting Statistics: in 2007/2008 and the chaos that erupted, kenya's benchmark interest rate was at 8.5% it went as high as 18% in 2012. Inflation in 2008/2009 was 32%, 2012 was around 18%. The currency devaluation was from 63 to 80 against the usd.
So if next year we dare repeat the past.
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Law Capping interest rates
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