2021
DOI: 10.1108/ijoem-03-2020-0289
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Symmetric and asymmetric adjustment of bank deposit interest rates: empirical evidence from Kenya

Abstract: PurposeThis paper examines the sluggish adjustment of deposit interest rate categories with response to policy rate changes in a developing economy.Design/methodology/approachSymmetric and asymmetric error correction models (ECMs) are employed to test the pass-through effect and adjustment speed of deposit rates when above or below their equilibrium levels.FindingsThe findings reveal an incomplete pass-through effect in both the short run and long run while mixed results of symmetric and asymmetric adjustment … Show more

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