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The Central Bank of Kenya (CBK) says it will punish banks over the failure to cut interest rates despite the incentive to do so, on the same day it cut benchmark lending rate by half a percentage point from 11.25 percent to 10.75 percent and reduced the cash holdings requirement for banks by one percent from 4.25 to 3.25 percent in order to boost lending to the private sector.
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CBK threatens banks for not cutting interest rates after lowering benchmark rate
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