Central Bank Rate retained at 7 percent

CBK Governor Dr Patrick Njoroge
CBK Governor Dr Patrick Njoroge 

Central Bank's Monetary Policy Committee (MPC) met today Thursday 25th June to assess the impact of the policy measures kept in place since March this year.

The meeting was held at a time when COVID-19 pandemic is still shaking the world economy badly with less to no growth in some sectors.

MPC however, noted some improvements in various aspects of the economy including:

  • Inflation being within  manageable conditions 
  • Non Performing Loans to Gross Loans ratio  improving from 13.1 percent to 13.0 percent 
  • Good quantity of foreign exchange reserves ( can last 5 months of importing)
  • Private sector Credit Increased.
For these and even more reasons, the MPC decided to keep the measures previously taken in force including retaining the Central Bank Rate at 7.0 per cent.


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