Stanbic promotes savings culture

Addressing the media this week, the bank’s chief executive officer Leina Gabaraane said the low bank rates are a double edge sword in the sense that as much as it affects them it also acts to stimulate the economy through cheaper credit for productive lending.

“The reason why monetary policy supports low bank rates is to try stimulate economic growth by getting people to borrow more because when there is great economic activity, it helps stimulate the economy,” he said.