ngapat wrote:obiero wrote:ngapat wrote:[quote=obiero]Jude Njomo, the brain behind the rate caps says:
“Initially, credit was available but unaffordable. Today, credit is affordable but not available” #InterestRateDebate I will ensure that the rate cap is not repealed, via parliament
https://www.standardmedi...epeal-interest-rate-law[/quote]
That is what happens when the law of demand and supply is not followed.
For electricity they say its better to have expensive power than have no power at all. Wonder whether this can also apply to credit.
Would we rather have expensive credit or no credit at all.
Better no credit than sickeningly expensive credit that cripples industry players such as what we are witnessing
There are two sides in this credit market. There is the borrower and the lender. The borrower is looking for cheap credit while the lender is looking for inflation beating returns with minimal risks.
The govt has only looked at one side of the equation i.e the borrower. What incentives has the Govt given the lender to make him lend at the rates they are dictating. Is the Govt willing to act a Guarantor of those loans
I have also noted, so, who will help @Ngapat to note too. After all, who are you not to get informed and be responsible accordingly,🤗🤔🤧🤕🤓😕🙃
"The MPC
noted that inflation expectations were well anchored within the target range, and that economic growth prospects were improving," CBK Governor Patrick Njoroge said on Monday.
"Furthermore, economic output was below its potential level, and there was some room for further accommodative monetary policy," Njoroge, who also chairs the MPC added
,Behold, a sower went forth to sow;....