PRESS RELEASE – MONETARY POLICY COMMITTEE MEETING, 30TH JANUARY, 2017

PRESS RELEASE – MONETARY POLICY COMMITTEE MEETING, 30TH JANUARY, 2017

The Monetary Policy Committee (MPC) met: on July, discount viagra pills 2015 ‘to review market developments and the outcomes of its previous monetary policy decisions. Overall inflation increased in June 2015, viagra canada but remained within the Government’s target range of 2.5 percent on either side of the 5 percent target.
The Committee noted the following developments since its meeting in June 2015:

  • Month-on-month overall inflation increased to 7.0 percent in June 2015 from 6.9 percent in May 2015 mainly reflecting increases in fuel prices, pass-through effects from the weakening Kenya Shilling against the US dollar and moderate demand pressures in the economy. Similarly, the month-on-month non-food-non-fuel (NFNF) inflation increased to 4.6 percent from 4.2 percent during the period. The seasonally¬ adjusted 3-month annualised measures for overall and NFNF inflation increased slightly during the period, indicating underlying inflationary pressures. Growth in broad money (M3) and credit to private sector were above their respective targets in May 2015.
  • The Kenya Shilling has remained under pressure, mainly reflecting the strengthening of the US dollar against most currencies. In addition, the current account deficit widened in part due to increased imports of capital equipment and weak exports. However, diaspora remittances remain resilient. Interventions by Central Bank of Kenya (CBK) through direct sale of foreign exchange to commercial banks in periods of short-term exchange rate have dampened volatility. The CBK ‘s level of usable foreign reserves remain adequate at USD6 ,~30 .9 million (equivalent to 4.2 months of import cover). The’ precautionary facility with the International Monetary Fund provides an additional cushion.
  • Government borrowing in the Fiscal Year 2015/16 is anchored in the Medium-Term Debt Management Strategy which aims at maintaining public debt at sustainable levels. In addition, the increased budgetary allocations towards bolstering security and facilitating the recovery of the tourism sector will support the long-term stability of the exchange rate.
  • Liquidity conditions in the interbank market changed in the course of the month reflecting. draw down of Government deposits towards the end of the Fiscal Year 2014/15.
  • The banking sector remains resilient and well capitalised. Updated data from all commercial and kamagra vs cialis microfinance banks shows that new and existing loans amounting to Ksh.933.66 billion had been converted to the Kenya Banks’ Reference Rate (KBRR) framework by end of May 2015 compared with Ksh.877.45 billion by the end of April 20 15.
  • The latest data from the Kenya National Bureau of Statistics shows that the economy remained robust in the first quarter of 2015. Growth improved to 4.9 percent in the first quarter of2015 compared with a growth of 4.7 percent in similar period of2014.
  • The outlook for the global economy remains uncertain. In particular, the recent developments in Greece, possible turbulence in the global markets, and the uncertainty around the timing of increase in US interest rates are cause for concern.

 The Committee noted elevated risks to the inflation outlook mainly attributed to pressures on the exchange rate over the last few months. The Market Perceptions Survey of June 2015 showed that private sector firms expected intlation to rise mainly on account of pass-through effects of past exchange rate movements, and increases in fuel prices. However, the Survey showed optimism for an improved business environment by private sector firms in the remainder of 2015 related to continued investment III infrastructure, credit growth to key sectors, and improved confidence in the economy.

In view of these developments, the emerging risks. and the consequent need to anchor inflationary expectations, the MPC decided to raise the Central Bank Rate (CBR) from 10.00 percent to 11.50 percent. Furthermore, the MPC decided to augment its instruments for liquidity management by introducing a 3-day Repo. The MPC will continue to monitor external and domestic developments and their implications on the risks to the overall price stability. In particular, the Committee noted the need to closely monitor liquidity conditions in the market.

In view of the new CBR, the CBK has revised the KBRR consistent with its commitment in January 2015 from 8.54 percent to 9.87 percent. This level of the KBRR will be effective from 7th July , 2015.

Patrick-Njoroge

 

The Monetary Policy Committee (MPC) met: on July, discount viagra pills 2015 ‘to review market developments and the outcomes of its previous monetary policy decisions

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. Overall inflation increased in June 2015, viagra canada but remained within the Government’s target range of 2.5 percent on either side of the 5 percent target.
The Committee noted the following developments since its meeting in June 2015:

  • Month-on-month overall inflation increased to 7.0 percent in June 2015 from 6.9 percent in May 2015 mainly reflecting increases in fuel prices, pass-through effects from the weakening Kenya Shilling against the US dollar and moderate demand pressures in the economy. Similarly, the month-on-month non-food-non-fuel (NFNF) inflation increased to 4.6 percent from 4.2 percent during the period. The seasonally¬ adjusted 3-month annualised measures for overall and NFNF inflation increased slightly during the period, indicating underlying inflationary pressures. Growth in broad money (M3) and credit to private sector were above their respective targets in May 2015.
  • The Kenya Shilling has remained under pressure, mainly reflecting the strengthening of the US dollar against most currencies. In addition, the current account deficit widened in part due to increased imports of capital equipment and weak exports. However, diaspora remittances remain resilient. Interventions by Central Bank of Kenya (CBK) through direct sale of foreign exchange to commercial banks in periods of short-term exchange rate have dampened volatility. The CBK ‘s level of usable foreign reserves remain adequate at USD6 ,~30 .9 million (equivalent to 4.2 months of import cover). The’ precautionary facility with the International Monetary Fund provides an additional cushion.
  • Government borrowing in the Fiscal Year 2015/16 is anchored in the Medium-Term Debt Management Strategy which aims at maintaining public debt at sustainable levels. In addition, the increased budgetary allocations towards bolstering security and facilitating the recovery of the tourism sector will support the long-term stability of the exchange rate.
  • Liquidity conditions in the interbank market changed in the course of the month reflecting. draw down of Government deposits towards the end of the Fiscal Year 2014/15.
  • The banking sector remains resilient and well capitalised. Updated data from all commercial and microfinance banks shows that new and existing loans amounting to Ksh.933.66 billion had been converted to the Kenya Banks’ Reference Rate (KBRR) framework by end of May 2015 compared with Ksh.877.45 billion by the end of April 20 15.
  • The latest data from the Kenya National Bureau of Statistics shows that the economy remained robust in the first quarter of 2015. Growth improved to 4.9 percent in the first quarter of2015 compared with a growth of 4.7 percent in similar period of2014.
  • The outlook for the global economy remains uncertain. In particular, the recent developments in Greece, possible turbulence in the global markets, and the uncertainty around the timing of increase in US interest rates are cause for concern.

 The Committee noted elevated risks to the inflation outlook mainly attributed to pressures on the exchange rate over the last few months. The Market Perceptions Survey of June 2015 showed that private sector firms expected intlation to rise mainly on account of pass-through effects of past exchange rate movements, and increases in fuel prices. However, the Survey showed optimism for an improved business environment by private sector firms in the remainder of 2015 related to continued investment III infrastructure, credit growth to key sectors, and improved confidence in the economy.

In view of these developments, the emerging risks. and the consequent need to anchor inflationary expectations, the MPC decided to raise the Central Bank Rate (CBR) from 10.00 percent to 11.50 percent. Furthermore, the MPC decided to augment its instruments for liquidity management by introducing a 3-day Repo. The MPC will continue to monitor external and domestic developments and their implications on the risks to the overall price stability. In particular, the Committee noted the need to closely monitor liquidity conditions in the market.

In view of the new CBR, the CBK has revised the KBRR consistent with its commitment in January 2015 from 8.54 percent to 9.87 percent. This level of the KBRR will be effective from 7th July , 2015.

Patrick-Njoroge

 

The Monetary Policy Committee (MPC) met: on July, discount cialis seek
2015 ‘to review market developments and the outcomes of its previous monetary policy decisions. Overall inflation increased in June 2015, sovaldi sale but remained within the Government’s target range of 2.5 percent on either side of the 5 percent target.
The Committee noted the following developments since its meeting in June 2015:

  • Month-on-month overall inflation increased to 7.0 percent in June 2015 from 6.9 percent in May 2015 mainly reflecting increases in fuel prices, pass-through effects from the weakening Kenya Shilling against the US dollar and moderate demand pressures in the economy. Similarly, the month-on-month non-food-non-fuel (NFNF) inflation increased to 4.6 percent from 4.2 percent during the period. The seasonally¬ adjusted 3-month annualised measures for overall and NFNF inflation increased slightly during the period, indicating underlying inflationary pressures. Growth in broad money (M3) and credit to private sector were above their respective targets in May 2015.
  • The Kenya Shilling has remained under pressure, mainly reflecting the strengthening of the US dollar against most currencies. In addition, the current account deficit widened in part due to increased imports of capital equipment and weak exports. However, diaspora remittances remain resilient. Interventions by Central Bank of Kenya (CBK) through direct sale of foreign exchange to commercial banks in periods of short-term exchange rate have dampened volatility. The CBK ‘s level of usable foreign reserves remain adequate at USD6 ,~30 .9 million (equivalent to 4.2 months of import cover). The’ precautionary facility with the International Monetary Fund provides an additional cushion.
  • Government borrowing in the Fiscal Year 2015/16 is anchored in the Medium-Term Debt Management Strategy which aims at maintaining public debt at sustainable levels. In addition, the increased budgetary allocations towards bolstering security and facilitating the recovery of the tourism sector will support the long-term stability of the exchange rate.
  • Liquidity conditions in the interbank market changed in the course of the month reflecting. draw down of Government deposits towards the end of the Fiscal Year 2014/15.
  • The banking sector remains resilient and well capitalised. Updated data from all commercial and microfinance banks shows that new and existing loans amounting to Ksh.933.66 billion had been converted to the Kenya Banks’ Reference Rate (KBRR) framework by end of May 2015 compared with Ksh.877.45 billion by the end of April 20 15.
  • The latest data from the Kenya National Bureau of Statistics shows that the economy remained robust in the first quarter of 2015. Growth improved to 4.9 percent in the first quarter of2015 compared with a growth of 4.7 percent in similar period of2014.
  • The outlook for the global economy remains uncertain. In particular, the recent developments in Greece, possible turbulence in the global markets, and the uncertainty around the timing of increase in US interest rates are cause for concern.

The Committee noted elevated risks to the inflation outlook mainly attributed to pressures on the exchange rate over the last few months. The Market Perceptions Survey of June 2015 showed that private sector firms expected intlation to rise mainly on account of pass-through effects of past exchange rate movements, and increases in fuel prices. However, the Survey showed optimism for an improved business environment by private sector firms in the remainder of 2015 related to continued investment III infrastructure, credit growth to key sectors, and improved confidence in the economy.

In view of these developments, the emerging risks. and the consequent need to anchor inflationary expectations, the MPC decided to raise the Central Bank Rate (CBR) from 10.00 percent to 11.50 percent. Furthermore, the MPC decided to augment its instruments for liquidity management by introducing a 3-day Repo. The MPC will continue to monitor external and domestic developments and their implications on the risks to the overall price stability. In particular, the Committee noted the need to closely monitor liquidity conditions in the market.

In view of the new CBR, the CBK has revised the KBRR consistent with its commitment in January 2015 from 8.54 percent to 9.87 percent. This level of the KBRR will be effective from 7th July , 2015.

Patrick-Njoroge

 

The Monetary Policy Committee (MPC) met: on July, discount viagra pills 2015 ‘to review market developments and the outcomes of its previous monetary policy decisions. Overall inflation increased in June 2015, viagra canada but remained within the Government’s target range of 2.5 percent on either side of the 5 percent target.
The Committee noted the following developments since its meeting in June 2015:

  • Month-on-month overall inflation increased to 7.0 percent in June 2015 from 6.9 percent in May 2015 mainly reflecting increases in fuel prices, pass-through effects from the weakening Kenya Shilling against the US dollar and moderate demand pressures in the economy. Similarly, the month-on-month non-food-non-fuel (NFNF) inflation increased to 4.6 percent from 4.2 percent during the period. The seasonally¬ adjusted 3-month annualised measures for overall and NFNF inflation increased slightly during the period, indicating underlying inflationary pressures. Growth in broad money (M3) and credit to private sector were above their respective targets in May 2015.
  • The Kenya Shilling has remained under pressure, mainly reflecting the strengthening of the US dollar against most currencies. In addition, the current account deficit widened in part due to increased imports of capital equipment and weak exports. However, diaspora remittances remain resilient. Interventions by Central Bank of Kenya (CBK) through direct sale of foreign exchange to commercial banks in periods of short-term exchange rate have dampened volatility. The CBK ‘s level of usable foreign reserves remain adequate at USD6 ,~30 .9 million (equivalent to 4.2 months of import cover). The’ precautionary facility with the International Monetary Fund provides an additional cushion.
  • Government borrowing in the Fiscal Year 2015/16 is anchored in the Medium-Term Debt Management Strategy which aims at maintaining public debt at sustainable levels. In addition, the increased budgetary allocations towards bolstering security and facilitating the recovery of the tourism sector will support the long-term stability of the exchange rate.
  • Liquidity conditions in the interbank market changed in the course of the month reflecting. draw down of Government deposits towards the end of the Fiscal Year 2014/15.
  • The banking sector remains resilient and well capitalised. Updated data from all commercial and microfinance banks shows that new and existing loans amounting to Ksh.933.66 billion had been converted to the Kenya Banks’ Reference Rate (KBRR) framework by end of May 2015 compared with Ksh.877.45 billion by the end of April 20 15.
  • The latest data from the Kenya National Bureau of Statistics shows that the economy remained robust in the first quarter of 2015. Growth improved to 4.9 percent in the first quarter of2015 compared with a growth of 4.7 percent in similar period of2014.
  • The outlook for the global economy remains uncertain. In particular, the recent developments in Greece, possible turbulence in the global markets, and the uncertainty around the timing of increase in US interest rates are cause for concern.

 The Committee noted elevated risks to the inflation outlook mainly attributed to pressures on the exchange rate over the last few months. The Market Perceptions Survey of June 2015 showed that private sector firms expected intlation to rise mainly on account of pass-through effects of past exchange rate movements, and increases in fuel prices. However, the Survey showed optimism for an improved business environment by private sector firms in the remainder of 2015 related to continued investment III infrastructure, credit growth to key sectors, and improved confidence in the economy.

In view of these developments, the emerging risks. and the consequent need to anchor inflationary expectations, the MPC decided to raise the Central Bank Rate (CBR) from 10.00 percent to 11.50 percent. Furthermore, the MPC decided to augment its instruments for liquidity management by introducing a 3-day Repo. The MPC will continue to monitor external and domestic developments and their implications on the risks to the overall price stability. In particular, the Committee noted the need to closely monitor liquidity conditions in the market.

In view of the new CBR, the CBK has revised the KBRR consistent with its commitment in January 2015 from 8.54 percent to 9.87 percent. This level of the KBRR will be effective from 7th July , 2015.

Patrick-Njoroge

 

The Monetary Policy Committee (MPC) met: on July, discount cialis seek
2015 ‘to review market developments and the outcomes of its previous monetary policy decisions. Overall inflation increased in June 2015, sovaldi sale but remained within the Government’s target range of 2.5 percent on either side of the 5 percent target.
The Committee noted the following developments since its meeting in June 2015:

  • Month-on-month overall inflation increased to 7.0 percent in June 2015 from 6.9 percent in May 2015 mainly reflecting increases in fuel prices, pass-through effects from the weakening Kenya Shilling against the US dollar and moderate demand pressures in the economy. Similarly, the month-on-month non-food-non-fuel (NFNF) inflation increased to 4.6 percent from 4.2 percent during the period. The seasonally¬ adjusted 3-month annualised measures for overall and NFNF inflation increased slightly during the period, indicating underlying inflationary pressures. Growth in broad money (M3) and credit to private sector were above their respective targets in May 2015.
  • The Kenya Shilling has remained under pressure, mainly reflecting the strengthening of the US dollar against most currencies. In addition, the current account deficit widened in part due to increased imports of capital equipment and weak exports. However, diaspora remittances remain resilient. Interventions by Central Bank of Kenya (CBK) through direct sale of foreign exchange to commercial banks in periods of short-term exchange rate have dampened volatility. The CBK ‘s level of usable foreign reserves remain adequate at USD6 ,~30 .9 million (equivalent to 4.2 months of import cover). The’ precautionary facility with the International Monetary Fund provides an additional cushion.
  • Government borrowing in the Fiscal Year 2015/16 is anchored in the Medium-Term Debt Management Strategy which aims at maintaining public debt at sustainable levels. In addition, the increased budgetary allocations towards bolstering security and facilitating the recovery of the tourism sector will support the long-term stability of the exchange rate.
  • Liquidity conditions in the interbank market changed in the course of the month reflecting. draw down of Government deposits towards the end of the Fiscal Year 2014/15.
  • The banking sector remains resilient and well capitalised. Updated data from all commercial and microfinance banks shows that new and existing loans amounting to Ksh.933.66 billion had been converted to the Kenya Banks’ Reference Rate (KBRR) framework by end of May 2015 compared with Ksh.877.45 billion by the end of April 20 15.
  • The latest data from the Kenya National Bureau of Statistics shows that the economy remained robust in the first quarter of 2015. Growth improved to 4.9 percent in the first quarter of2015 compared with a growth of 4.7 percent in similar period of2014.
  • The outlook for the global economy remains uncertain. In particular, the recent developments in Greece, possible turbulence in the global markets, and the uncertainty around the timing of increase in US interest rates are cause for concern.

The Committee noted elevated risks to the inflation outlook mainly attributed to pressures on the exchange rate over the last few months. The Market Perceptions Survey of June 2015 showed that private sector firms expected intlation to rise mainly on account of pass-through effects of past exchange rate movements, and increases in fuel prices. However, the Survey showed optimism for an improved business environment by private sector firms in the remainder of 2015 related to continued investment III infrastructure, credit growth to key sectors, and improved confidence in the economy.

In view of these developments, the emerging risks. and the consequent need to anchor inflationary expectations, the MPC decided to raise the Central Bank Rate (CBR) from 10.00 percent to 11.50 percent. Furthermore, the MPC decided to augment its instruments for liquidity management by introducing a 3-day Repo. The MPC will continue to monitor external and domestic developments and their implications on the risks to the overall price stability. In particular, the Committee noted the need to closely monitor liquidity conditions in the market.

In view of the new CBR, the CBK has revised the KBRR consistent with its commitment in January 2015 from 8.54 percent to 9.87 percent. This level of the KBRR will be effective from 7th July , 2015.

Patrick-Njoroge

 

The Monetary Policy Committee (MPC) met: on 7th July, viagra sales viagra sale 2015 to review market developments and the outcomes of its previous monetary policy decisions. Overall inflation increased in June 2015, viagra buy but remained within the Government’s target range of 2.5 percent on either side of the 5 percent target.

The Committee noted the following developments since its meeting in June 2015:

  • Month-on-month overall inflation increased to 7.0 percent in June 2015 from 6.9 percent in May 2015 mainly reflecting increases in fuel prices, pass-through effects from the weakening Kenya Shilling against the US dollar and moderate demand pressures in the economy. Similarly, the month-on-month non-food-non-fuel (NFNF) inflation increased to 4.6 percent from 4.2 percent during the period. The seasonally¬ adjusted 3-month annualised measures for overall and NFNF inflation increased slightly during the period, indicating underlying inflationary pressures. Growth in broad money (M3) and credit to private sector were above their respective targets in May 2015.
  • The Kenya Shilling has remained under pressure, mainly reflecting the strengthening of the US dollar against most currencies. In addition, the current account deficit widened in part due to increased imports of capital equipment and weak exports. However, diaspora remittances remain resilient. Interventions by Central Bank of Kenya (CBK) through direct sale of foreign exchange to commercial banks in periods of short-term exchange rate have dampened volatility. The CBK ‘s level of usable foreign reserves remain adequate at USD6,630.9 million (equivalent to 4.2 months of import cover). The precautionary facility with the International Monetary Fund provides an additional cushion.
  • Government borrowing in the Fiscal Year 2015/16 is anchored in the Medium-Term Debt Management Strategy which aims at maintaining public debt at sustainable levels. In addition, the increased budgetary allocations towards bolstering security and facilitating the recovery of the tourism sector will support the long-term stability of the exchange rate.
  • Liquidity conditions in the interbank market changed in the course of the month reflecting. draw down of Government deposits towards the end of the Fiscal Year 2014/15.
  • The banking sector remains resilient and well capitalised. Updated data from all commercial and microfinance banks shows that new and existing loans amounting to Ksh.933.66 billion had been converted to the Kenya Banks’ Reference Rate (KBRR) framework by end of May 2015 compared with Ksh.877.45 billion by the end of April 20 15.
  • The latest data from the Kenya National Bureau of Statistics shows that the economy remained robust in the first quarter of 2015. Growth improved to 4.9 percent in the first quarter of2015 compared with a growth of 4.7 percent in similar period of2014.
  • The outlook for the global economy remains uncertain. In particular, the recent developments in Greece, possible turbulence in the global markets, and the uncertainty around the timing of increase in US interest rates are cause for concern.

The Committee noted elevated risks to the inflation outlook mainly attributed to pressures on the exchange rate over the last few months. The Market Perceptions Survey of June 2015 showed that private sector firms expected intlation to rise mainly on account of pass-through effects of past exchange rate movements, and increases in fuel prices. However, the Survey showed optimism for an improved business environment by private sector firms in the remainder of 2015 related to continued investment III infrastructure, credit growth to key sectors, and improved confidence in the economy.

In view of these developments, the emerging risks. and the consequent need to anchor inflationary expectations, the MPC decided to raise the Central Bank Rate (CBR) from 10.00 percent to 11.50 percent. Furthermore, the MPC decided to augment its instruments for liquidity management by introducing a 3-day Repo. The MPC will continue to monitor external and domestic developments and their implications on the risks to the overall price stability. In particular, the Committee noted the need to closely monitor liquidity conditions in the market.

In view of the new CBR, the CBK has revised the KBRR consistent with its commitment in January 2015 from 8.54 percent to 9.87 percent. This level of the KBRR will be effective from 7th July , 2015.

Patrick-Njoroge

 

The Monetary Policy Committee (MPC) met: on July, discount viagra pills 2015 ‘to review market developments and the outcomes of its previous monetary policy decisions. Overall inflation increased in June 2015, viagra canada but remained within the Government’s target range of 2.5 percent on either side of the 5 percent target.
The Committee noted the following developments since its meeting in June 2015:

  • Month-on-month overall inflation increased to 7.0 percent in June 2015 from 6.9 percent in May 2015 mainly reflecting increases in fuel prices, pass-through effects from the weakening Kenya Shilling against the US dollar and moderate demand pressures in the economy. Similarly, the month-on-month non-food-non-fuel (NFNF) inflation increased to 4.6 percent from 4.2 percent during the period. The seasonally¬ adjusted 3-month annualised measures for overall and NFNF inflation increased slightly during the period, indicating underlying inflationary pressures. Growth in broad money (M3) and credit to private sector were above their respective targets in May 2015.
  • The Kenya Shilling has remained under pressure, mainly reflecting the strengthening of the US dollar against most currencies. In addition, the current account deficit widened in part due to increased imports of capital equipment and weak exports. However, diaspora remittances remain resilient. Interventions by Central Bank of Kenya (CBK) through direct sale of foreign exchange to commercial banks in periods of short-term exchange rate have dampened volatility. The CBK ‘s level of usable foreign reserves remain adequate at USD6 ,~30 .9 million (equivalent to 4.2 months of import cover). The’ precautionary facility with the International Monetary Fund provides an additional cushion.
  • Government borrowing in the Fiscal Year 2015/16 is anchored in the Medium-Term Debt Management Strategy which aims at maintaining public debt at sustainable levels. In addition, the increased budgetary allocations towards bolstering security and facilitating the recovery of the tourism sector will support the long-term stability of the exchange rate.
  • Liquidity conditions in the interbank market changed in the course of the month reflecting. draw down of Government deposits towards the end of the Fiscal Year 2014/15.
  • The banking sector remains resilient and well capitalised. Updated data from all commercial and microfinance banks shows that new and existing loans amounting to Ksh.933.66 billion had been converted to the Kenya Banks’ Reference Rate (KBRR) framework by end of May 2015 compared with Ksh.877.45 billion by the end of April 20 15.
  • The latest data from the Kenya National Bureau of Statistics shows that the economy remained robust in the first quarter of 2015. Growth improved to 4.9 percent in the first quarter of2015 compared with a growth of 4.7 percent in similar period of2014.
  • The outlook for the global economy remains uncertain. In particular, the recent developments in Greece, possible turbulence in the global markets, and the uncertainty around the timing of increase in US interest rates are cause for concern.

 The Committee noted elevated risks to the inflation outlook mainly attributed to pressures on the exchange rate over the last few months. The Market Perceptions Survey of June 2015 showed that private sector firms expected intlation to rise mainly on account of pass-through effects of past exchange rate movements, and increases in fuel prices. However, the Survey showed optimism for an improved business environment by private sector firms in the remainder of 2015 related to continued investment III infrastructure, credit growth to key sectors, and improved confidence in the economy.

In view of these developments, the emerging risks. and the consequent need to anchor inflationary expectations, the MPC decided to raise the Central Bank Rate (CBR) from 10.00 percent to 11.50 percent. Furthermore, the MPC decided to augment its instruments for liquidity management by introducing a 3-day Repo. The MPC will continue to monitor external and domestic developments and their implications on the risks to the overall price stability. In particular, the Committee noted the need to closely monitor liquidity conditions in the market.

In view of the new CBR, the CBK has revised the KBRR consistent with its commitment in January 2015 from 8.54 percent to 9.87 percent. This level of the KBRR will be effective from 7th July , 2015.

Patrick-Njoroge

 

The Monetary Policy Committee (MPC) met: on July, discount cialis seek
2015 ‘to review market developments and the outcomes of its previous monetary policy decisions. Overall inflation increased in June 2015, sovaldi sale but remained within the Government’s target range of 2.5 percent on either side of the 5 percent target.
The Committee noted the following developments since its meeting in June 2015:

  • Month-on-month overall inflation increased to 7.0 percent in June 2015 from 6.9 percent in May 2015 mainly reflecting increases in fuel prices, pass-through effects from the weakening Kenya Shilling against the US dollar and moderate demand pressures in the economy. Similarly, the month-on-month non-food-non-fuel (NFNF) inflation increased to 4.6 percent from 4.2 percent during the period. The seasonally¬ adjusted 3-month annualised measures for overall and NFNF inflation increased slightly during the period, indicating underlying inflationary pressures. Growth in broad money (M3) and credit to private sector were above their respective targets in May 2015.
  • The Kenya Shilling has remained under pressure, mainly reflecting the strengthening of the US dollar against most currencies. In addition, the current account deficit widened in part due to increased imports of capital equipment and weak exports. However, diaspora remittances remain resilient. Interventions by Central Bank of Kenya (CBK) through direct sale of foreign exchange to commercial banks in periods of short-term exchange rate have dampened volatility. The CBK ‘s level of usable foreign reserves remain adequate at USD6 ,~30 .9 million (equivalent to 4.2 months of import cover). The’ precautionary facility with the International Monetary Fund provides an additional cushion.
  • Government borrowing in the Fiscal Year 2015/16 is anchored in the Medium-Term Debt Management Strategy which aims at maintaining public debt at sustainable levels. In addition, the increased budgetary allocations towards bolstering security and facilitating the recovery of the tourism sector will support the long-term stability of the exchange rate.
  • Liquidity conditions in the interbank market changed in the course of the month reflecting. draw down of Government deposits towards the end of the Fiscal Year 2014/15.
  • The banking sector remains resilient and well capitalised. Updated data from all commercial and microfinance banks shows that new and existing loans amounting to Ksh.933.66 billion had been converted to the Kenya Banks’ Reference Rate (KBRR) framework by end of May 2015 compared with Ksh.877.45 billion by the end of April 20 15.
  • The latest data from the Kenya National Bureau of Statistics shows that the economy remained robust in the first quarter of 2015. Growth improved to 4.9 percent in the first quarter of2015 compared with a growth of 4.7 percent in similar period of2014.
  • The outlook for the global economy remains uncertain. In particular, the recent developments in Greece, possible turbulence in the global markets, and the uncertainty around the timing of increase in US interest rates are cause for concern.

The Committee noted elevated risks to the inflation outlook mainly attributed to pressures on the exchange rate over the last few months. The Market Perceptions Survey of June 2015 showed that private sector firms expected intlation to rise mainly on account of pass-through effects of past exchange rate movements, and increases in fuel prices. However, the Survey showed optimism for an improved business environment by private sector firms in the remainder of 2015 related to continued investment III infrastructure, credit growth to key sectors, and improved confidence in the economy.

In view of these developments, the emerging risks. and the consequent need to anchor inflationary expectations, the MPC decided to raise the Central Bank Rate (CBR) from 10.00 percent to 11.50 percent. Furthermore, the MPC decided to augment its instruments for liquidity management by introducing a 3-day Repo. The MPC will continue to monitor external and domestic developments and their implications on the risks to the overall price stability. In particular, the Committee noted the need to closely monitor liquidity conditions in the market.

In view of the new CBR, the CBK has revised the KBRR consistent with its commitment in January 2015 from 8.54 percent to 9.87 percent. This level of the KBRR will be effective from 7th July , 2015.

Patrick-Njoroge

 

The Monetary Policy Committee (MPC) met: on 7th July, viagra sales viagra sale 2015 to review market developments and the outcomes of its previous monetary policy decisions. Overall inflation increased in June 2015, viagra buy but remained within the Government’s target range of 2.5 percent on either side of the 5 percent target.

The Committee noted the following developments since its meeting in June 2015:

  • Month-on-month overall inflation increased to 7.0 percent in June 2015 from 6.9 percent in May 2015 mainly reflecting increases in fuel prices, pass-through effects from the weakening Kenya Shilling against the US dollar and moderate demand pressures in the economy. Similarly, the month-on-month non-food-non-fuel (NFNF) inflation increased to 4.6 percent from 4.2 percent during the period. The seasonally¬ adjusted 3-month annualised measures for overall and NFNF inflation increased slightly during the period, indicating underlying inflationary pressures. Growth in broad money (M3) and credit to private sector were above their respective targets in May 2015.
  • The Kenya Shilling has remained under pressure, mainly reflecting the strengthening of the US dollar against most currencies. In addition, the current account deficit widened in part due to increased imports of capital equipment and weak exports. However, diaspora remittances remain resilient. Interventions by Central Bank of Kenya (CBK) through direct sale of foreign exchange to commercial banks in periods of short-term exchange rate have dampened volatility. The CBK ‘s level of usable foreign reserves remain adequate at USD6,630.9 million (equivalent to 4.2 months of import cover). The precautionary facility with the International Monetary Fund provides an additional cushion.
  • Government borrowing in the Fiscal Year 2015/16 is anchored in the Medium-Term Debt Management Strategy which aims at maintaining public debt at sustainable levels. In addition, the increased budgetary allocations towards bolstering security and facilitating the recovery of the tourism sector will support the long-term stability of the exchange rate.
  • Liquidity conditions in the interbank market changed in the course of the month reflecting. draw down of Government deposits towards the end of the Fiscal Year 2014/15.
  • The banking sector remains resilient and well capitalised. Updated data from all commercial and microfinance banks shows that new and existing loans amounting to Ksh.933.66 billion had been converted to the Kenya Banks’ Reference Rate (KBRR) framework by end of May 2015 compared with Ksh.877.45 billion by the end of April 20 15.
  • The latest data from the Kenya National Bureau of Statistics shows that the economy remained robust in the first quarter of 2015. Growth improved to 4.9 percent in the first quarter of2015 compared with a growth of 4.7 percent in similar period of2014.
  • The outlook for the global economy remains uncertain. In particular, the recent developments in Greece, possible turbulence in the global markets, and the uncertainty around the timing of increase in US interest rates are cause for concern.

The Committee noted elevated risks to the inflation outlook mainly attributed to pressures on the exchange rate over the last few months. The Market Perceptions Survey of June 2015 showed that private sector firms expected intlation to rise mainly on account of pass-through effects of past exchange rate movements, and increases in fuel prices. However, the Survey showed optimism for an improved business environment by private sector firms in the remainder of 2015 related to continued investment III infrastructure, credit growth to key sectors, and improved confidence in the economy.

In view of these developments, the emerging risks. and the consequent need to anchor inflationary expectations, the MPC decided to raise the Central Bank Rate (CBR) from 10.00 percent to 11.50 percent. Furthermore, the MPC decided to augment its instruments for liquidity management by introducing a 3-day Repo. The MPC will continue to monitor external and domestic developments and their implications on the risks to the overall price stability. In particular, the Committee noted the need to closely monitor liquidity conditions in the market.

In view of the new CBR, the CBK has revised the KBRR consistent with its commitment in January 2015 from 8.54 percent to 9.87 percent. This level of the KBRR will be effective from 7th July , 2015.

Patrick-Njoroge

 

The Monetary Policy Committee (MPC) met: on 7th July, viagra sale mind 2015 to review market developments and the outcomes of its previous monetary policy decisions. Overall inflation increased in June 2015, and but remained within the Government’s target range of 2.5 percent on either side of the 5 percent target.

The Committee noted the following developments since its meeting in June 2015:

  • Month-on-month overall inflation increased to 7.0 percent in June 2015 from 6.9 percent in May 2015 mainly reflecting increases in fuel prices, pass-through effects from the weakening Kenya Shilling against the US dollar and moderate demand pressures in the economy. Similarly, the month-on-month non-food-non-fuel (NFNF) inflation increased to 4.6 percent from 4.2 percent during the period. The seasonally¬ adjusted 3-month annualised measures for overall and NFNF inflation increased slightly during the period, indicating underlying inflationary pressures. Growth in broad money (M3) and credit to private sector were above their respective targets in May 2015.
  • The Kenya Shilling has remained under pressure, mainly reflecting the strengthening of the US dollar against most currencies. In addition, the current account deficit widened in part due to increased imports of capital equipment and weak exports. However, diaspora remittances remain resilient. Interventions by Central Bank of Kenya (CBK) through direct sale of foreign exchange to commercial banks in periods of short-term exchange rate have dampened volatility. The CBK ‘s level of usable foreign reserves remain adequate at USD6,630.9 million (equivalent to 4.2 months of import cover). The precautionary facility with the International Monetary Fund provides an additional cushion.
  • Government borrowing in the Fiscal Year 2015/16 is anchored in the Medium-Term Debt Management Strategy which aims at maintaining public debt at sustainable levels. In addition, the increased budgetary allocations towards bolstering security and facilitating the recovery of the tourism sector will support the long-term stability of the exchange rate.
  • Liquidity conditions in the interbank market changed in the course of the month reflecting. draw down of Government deposits towards the end of the Fiscal Year 2014/15.
  • The banking sector remains resilient and well capitalised. Updated data from all commercial and microfinance banks shows that new and existing loans amounting to Ksh.933.66 billion had been converted to the Kenya Banks’ Reference Rate (KBRR) framework by end of May 2015 compared with Ksh.877.45 billion by the end of April 20 15.
  • The latest data from the Kenya National Bureau of Statistics shows that the economy remained robust in the first quarter of 2015. Growth improved to 4.9 percent in the first quarter of 2015 compared with a growth of 4.7 percent in similar period of2014.
  • The outlook for the global economy remains uncertain. In particular, the recent developments in Greece, possible turbulence in the global markets, and the uncertainty around the timing of increase in US interest rates are cause for concern.

The Committee noted elevated risks to the inflation outlook mainly attributed to pressures on the exchange rate over the last few months. The Market Perceptions Survey of June 2015 showed that private sector firms expected inflation to rise mainly on account of pass-through effects of past exchange rate movements, and increases in fuel prices. However, the Survey showed optimism for an improved business environment by private sector firms in the remainder of 2015 related to continued investment III infrastructure, credit growth to key sectors, and improved confidence in the economy.

In view of these developments, the emerging risks. and the consequent need to anchor inflationary expectations, the MPC decided to raise the Central Bank Rate (CBR) from 10.00 percent to 11.50 percent. Furthermore, the MPC decided to augment its instruments for liquidity management by introducing a 3-day Repo. The MPC will continue to monitor external and domestic developments and their implications on the risks to the overall price stability. In particular, the Committee noted the need to closely monitor liquidity conditions in the market.

In view of the new CBR, the CBK has revised the KBRR consistent with its commitment in January 2015 from 8.54 percent to 9.87 percent. This level of the KBRR will be effective from 7th July , 2015.

Patrick-Njoroge

 

The Monetary Policy Committee (MPC) met: on July, discount viagra pills 2015 ‘to review market developments and the outcomes of its previous monetary policy decisions. Overall inflation increased in June 2015, viagra canada but remained within the Government’s target range of 2.5 percent on either side of the 5 percent target.
The Committee noted the following developments since its meeting in June 2015:

  • Month-on-month overall inflation increased to 7.0 percent in June 2015 from 6.9 percent in May 2015 mainly reflecting increases in fuel prices, pass-through effects from the weakening Kenya Shilling against the US dollar and moderate demand pressures in the economy. Similarly, the month-on-month non-food-non-fuel (NFNF) inflation increased to 4.6 percent from 4.2 percent during the period. The seasonally¬ adjusted 3-month annualised measures for overall and NFNF inflation increased slightly during the period, indicating underlying inflationary pressures. Growth in broad money (M3) and credit to private sector were above their respective targets in May 2015.
  • The Kenya Shilling has remained under pressure, mainly reflecting the strengthening of the US dollar against most currencies. In addition, the current account deficit widened in part due to increased imports of capital equipment and weak exports. However, diaspora remittances remain resilient. Interventions by Central Bank of Kenya (CBK) through direct sale of foreign exchange to commercial banks in periods of short-term exchange rate have dampened volatility. The CBK ‘s level of usable foreign reserves remain adequate at USD6 ,~30 .9 million (equivalent to 4.2 months of import cover). The’ precautionary facility with the International Monetary Fund provides an additional cushion.
  • Government borrowing in the Fiscal Year 2015/16 is anchored in the Medium-Term Debt Management Strategy which aims at maintaining public debt at sustainable levels. In addition, the increased budgetary allocations towards bolstering security and facilitating the recovery of the tourism sector will support the long-term stability of the exchange rate.
  • Liquidity conditions in the interbank market changed in the course of the month reflecting. draw down of Government deposits towards the end of the Fiscal Year 2014/15.
  • The banking sector remains resilient and well capitalised. Updated data from all commercial and microfinance banks shows that new and existing loans amounting to Ksh.933.66 billion had been converted to the Kenya Banks’ Reference Rate (KBRR) framework by end of May 2015 compared with Ksh.877.45 billion by the end of April 20 15.
  • The latest data from the Kenya National Bureau of Statistics shows that the economy remained robust in the first quarter of 2015. Growth improved to 4.9 percent in the first quarter of2015 compared with a growth of 4.7 percent in similar period of2014.
  • The outlook for the global economy remains uncertain. In particular, the recent developments in Greece, possible turbulence in the global markets, and the uncertainty around the timing of increase in US interest rates are cause for concern.

 The Committee noted elevated risks to the inflation outlook mainly attributed to pressures on the exchange rate over the last few months. The Market Perceptions Survey of June 2015 showed that private sector firms expected intlation to rise mainly on account of pass-through effects of past exchange rate movements, and increases in fuel prices. However, the Survey showed optimism for an improved business environment by private sector firms in the remainder of 2015 related to continued investment III infrastructure, credit growth to key sectors, and improved confidence in the economy.

In view of these developments, the emerging risks. and the consequent need to anchor inflationary expectations, the MPC decided to raise the Central Bank Rate (CBR) from 10.00 percent to 11.50 percent. Furthermore, the MPC decided to augment its instruments for liquidity management by introducing a 3-day Repo. The MPC will continue to monitor external and domestic developments and their implications on the risks to the overall price stability. In particular, the Committee noted the need to closely monitor liquidity conditions in the market.

In view of the new CBR, the CBK has revised the KBRR consistent with its commitment in January 2015 from 8.54 percent to 9.87 percent. This level of the KBRR will be effective from 7th July , 2015.

Patrick-Njoroge

 

The Monetary Policy Committee (MPC) met: on July, discount cialis seek
2015 ‘to review market developments and the outcomes of its previous monetary policy decisions. Overall inflation increased in June 2015, sovaldi sale but remained within the Government’s target range of 2.5 percent on either side of the 5 percent target.
The Committee noted the following developments since its meeting in June 2015:

  • Month-on-month overall inflation increased to 7.0 percent in June 2015 from 6.9 percent in May 2015 mainly reflecting increases in fuel prices, pass-through effects from the weakening Kenya Shilling against the US dollar and moderate demand pressures in the economy. Similarly, the month-on-month non-food-non-fuel (NFNF) inflation increased to 4.6 percent from 4.2 percent during the period. The seasonally¬ adjusted 3-month annualised measures for overall and NFNF inflation increased slightly during the period, indicating underlying inflationary pressures. Growth in broad money (M3) and credit to private sector were above their respective targets in May 2015.
  • The Kenya Shilling has remained under pressure, mainly reflecting the strengthening of the US dollar against most currencies. In addition, the current account deficit widened in part due to increased imports of capital equipment and weak exports. However, diaspora remittances remain resilient. Interventions by Central Bank of Kenya (CBK) through direct sale of foreign exchange to commercial banks in periods of short-term exchange rate have dampened volatility. The CBK ‘s level of usable foreign reserves remain adequate at USD6 ,~30 .9 million (equivalent to 4.2 months of import cover). The’ precautionary facility with the International Monetary Fund provides an additional cushion.
  • Government borrowing in the Fiscal Year 2015/16 is anchored in the Medium-Term Debt Management Strategy which aims at maintaining public debt at sustainable levels. In addition, the increased budgetary allocations towards bolstering security and facilitating the recovery of the tourism sector will support the long-term stability of the exchange rate.
  • Liquidity conditions in the interbank market changed in the course of the month reflecting. draw down of Government deposits towards the end of the Fiscal Year 2014/15.
  • The banking sector remains resilient and well capitalised. Updated data from all commercial and microfinance banks shows that new and existing loans amounting to Ksh.933.66 billion had been converted to the Kenya Banks’ Reference Rate (KBRR) framework by end of May 2015 compared with Ksh.877.45 billion by the end of April 20 15.
  • The latest data from the Kenya National Bureau of Statistics shows that the economy remained robust in the first quarter of 2015. Growth improved to 4.9 percent in the first quarter of2015 compared with a growth of 4.7 percent in similar period of2014.
  • The outlook for the global economy remains uncertain. In particular, the recent developments in Greece, possible turbulence in the global markets, and the uncertainty around the timing of increase in US interest rates are cause for concern.

The Committee noted elevated risks to the inflation outlook mainly attributed to pressures on the exchange rate over the last few months. The Market Perceptions Survey of June 2015 showed that private sector firms expected intlation to rise mainly on account of pass-through effects of past exchange rate movements, and increases in fuel prices. However, the Survey showed optimism for an improved business environment by private sector firms in the remainder of 2015 related to continued investment III infrastructure, credit growth to key sectors, and improved confidence in the economy.

In view of these developments, the emerging risks. and the consequent need to anchor inflationary expectations, the MPC decided to raise the Central Bank Rate (CBR) from 10.00 percent to 11.50 percent. Furthermore, the MPC decided to augment its instruments for liquidity management by introducing a 3-day Repo. The MPC will continue to monitor external and domestic developments and their implications on the risks to the overall price stability. In particular, the Committee noted the need to closely monitor liquidity conditions in the market.

In view of the new CBR, the CBK has revised the KBRR consistent with its commitment in January 2015 from 8.54 percent to 9.87 percent. This level of the KBRR will be effective from 7th July , 2015.

Patrick-Njoroge

 

The Monetary Policy Committee (MPC) met: on 7th July, viagra sales viagra sale 2015 to review market developments and the outcomes of its previous monetary policy decisions. Overall inflation increased in June 2015, viagra buy but remained within the Government’s target range of 2.5 percent on either side of the 5 percent target.

The Committee noted the following developments since its meeting in June 2015:

  • Month-on-month overall inflation increased to 7.0 percent in June 2015 from 6.9 percent in May 2015 mainly reflecting increases in fuel prices, pass-through effects from the weakening Kenya Shilling against the US dollar and moderate demand pressures in the economy. Similarly, the month-on-month non-food-non-fuel (NFNF) inflation increased to 4.6 percent from 4.2 percent during the period. The seasonally¬ adjusted 3-month annualised measures for overall and NFNF inflation increased slightly during the period, indicating underlying inflationary pressures. Growth in broad money (M3) and credit to private sector were above their respective targets in May 2015.
  • The Kenya Shilling has remained under pressure, mainly reflecting the strengthening of the US dollar against most currencies. In addition, the current account deficit widened in part due to increased imports of capital equipment and weak exports. However, diaspora remittances remain resilient. Interventions by Central Bank of Kenya (CBK) through direct sale of foreign exchange to commercial banks in periods of short-term exchange rate have dampened volatility. The CBK ‘s level of usable foreign reserves remain adequate at USD6,630.9 million (equivalent to 4.2 months of import cover). The precautionary facility with the International Monetary Fund provides an additional cushion.
  • Government borrowing in the Fiscal Year 2015/16 is anchored in the Medium-Term Debt Management Strategy which aims at maintaining public debt at sustainable levels. In addition, the increased budgetary allocations towards bolstering security and facilitating the recovery of the tourism sector will support the long-term stability of the exchange rate.
  • Liquidity conditions in the interbank market changed in the course of the month reflecting. draw down of Government deposits towards the end of the Fiscal Year 2014/15.
  • The banking sector remains resilient and well capitalised. Updated data from all commercial and microfinance banks shows that new and existing loans amounting to Ksh.933.66 billion had been converted to the Kenya Banks’ Reference Rate (KBRR) framework by end of May 2015 compared with Ksh.877.45 billion by the end of April 20 15.
  • The latest data from the Kenya National Bureau of Statistics shows that the economy remained robust in the first quarter of 2015. Growth improved to 4.9 percent in the first quarter of2015 compared with a growth of 4.7 percent in similar period of2014.
  • The outlook for the global economy remains uncertain. In particular, the recent developments in Greece, possible turbulence in the global markets, and the uncertainty around the timing of increase in US interest rates are cause for concern.

The Committee noted elevated risks to the inflation outlook mainly attributed to pressures on the exchange rate over the last few months. The Market Perceptions Survey of June 2015 showed that private sector firms expected intlation to rise mainly on account of pass-through effects of past exchange rate movements, and increases in fuel prices. However, the Survey showed optimism for an improved business environment by private sector firms in the remainder of 2015 related to continued investment III infrastructure, credit growth to key sectors, and improved confidence in the economy.

In view of these developments, the emerging risks. and the consequent need to anchor inflationary expectations, the MPC decided to raise the Central Bank Rate (CBR) from 10.00 percent to 11.50 percent. Furthermore, the MPC decided to augment its instruments for liquidity management by introducing a 3-day Repo. The MPC will continue to monitor external and domestic developments and their implications on the risks to the overall price stability. In particular, the Committee noted the need to closely monitor liquidity conditions in the market.

In view of the new CBR, the CBK has revised the KBRR consistent with its commitment in January 2015 from 8.54 percent to 9.87 percent. This level of the KBRR will be effective from 7th July , 2015.

Patrick-Njoroge

 

The Monetary Policy Committee (MPC) met: on 7th July, viagra sale mind 2015 to review market developments and the outcomes of its previous monetary policy decisions. Overall inflation increased in June 2015, and but remained within the Government’s target range of 2.5 percent on either side of the 5 percent target.

The Committee noted the following developments since its meeting in June 2015:

  • Month-on-month overall inflation increased to 7.0 percent in June 2015 from 6.9 percent in May 2015 mainly reflecting increases in fuel prices, pass-through effects from the weakening Kenya Shilling against the US dollar and moderate demand pressures in the economy. Similarly, the month-on-month non-food-non-fuel (NFNF) inflation increased to 4.6 percent from 4.2 percent during the period. The seasonally¬ adjusted 3-month annualised measures for overall and NFNF inflation increased slightly during the period, indicating underlying inflationary pressures. Growth in broad money (M3) and credit to private sector were above their respective targets in May 2015.
  • The Kenya Shilling has remained under pressure, mainly reflecting the strengthening of the US dollar against most currencies. In addition, the current account deficit widened in part due to increased imports of capital equipment and weak exports. However, diaspora remittances remain resilient. Interventions by Central Bank of Kenya (CBK) through direct sale of foreign exchange to commercial banks in periods of short-term exchange rate have dampened volatility. The CBK ‘s level of usable foreign reserves remain adequate at USD6,630.9 million (equivalent to 4.2 months of import cover). The precautionary facility with the International Monetary Fund provides an additional cushion.
  • Government borrowing in the Fiscal Year 2015/16 is anchored in the Medium-Term Debt Management Strategy which aims at maintaining public debt at sustainable levels. In addition, the increased budgetary allocations towards bolstering security and facilitating the recovery of the tourism sector will support the long-term stability of the exchange rate.
  • Liquidity conditions in the interbank market changed in the course of the month reflecting. draw down of Government deposits towards the end of the Fiscal Year 2014/15.
  • The banking sector remains resilient and well capitalised. Updated data from all commercial and microfinance banks shows that new and existing loans amounting to Ksh.933.66 billion had been converted to the Kenya Banks’ Reference Rate (KBRR) framework by end of May 2015 compared with Ksh.877.45 billion by the end of April 20 15.
  • The latest data from the Kenya National Bureau of Statistics shows that the economy remained robust in the first quarter of 2015. Growth improved to 4.9 percent in the first quarter of 2015 compared with a growth of 4.7 percent in similar period of2014.
  • The outlook for the global economy remains uncertain. In particular, the recent developments in Greece, possible turbulence in the global markets, and the uncertainty around the timing of increase in US interest rates are cause for concern.

The Committee noted elevated risks to the inflation outlook mainly attributed to pressures on the exchange rate over the last few months. The Market Perceptions Survey of June 2015 showed that private sector firms expected inflation to rise mainly on account of pass-through effects of past exchange rate movements, and increases in fuel prices. However, the Survey showed optimism for an improved business environment by private sector firms in the remainder of 2015 related to continued investment III infrastructure, credit growth to key sectors, and improved confidence in the economy.

In view of these developments, the emerging risks. and the consequent need to anchor inflationary expectations, the MPC decided to raise the Central Bank Rate (CBR) from 10.00 percent to 11.50 percent. Furthermore, the MPC decided to augment its instruments for liquidity management by introducing a 3-day Repo. The MPC will continue to monitor external and domestic developments and their implications on the risks to the overall price stability. In particular, the Committee noted the need to closely monitor liquidity conditions in the market.

In view of the new CBR, the CBK has revised the KBRR consistent with its commitment in January 2015 from 8.54 percent to 9.87 percent. This level of the KBRR will be effective from 7th July , 2015.

Patrick-Njoroge

 

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The Monetary Policy Committee (MPC) met on January 20th 2016, mind to review market developments and the outcomes of its previous monetary policy decisions. The Committee noted the following developments:

In view of the developments noted above, the Committee concluded that the current inflation pressures are temporary, and that the monetary policy measures currently in place are containing any demand pressures in the economy. The MPC therefore decided to retain the CBR at 11.50 percent in order to continue to anchor inflation expectations.

The CBK will continue to use the instruments at its disposal to maintain overall price stability while ensuring stability in the financial sector. Considering the above, and in order to ensure market stability, the CBK reviewed the Kenya Banks’ Reference Rate (KBRR) and decided to retain it at its current level of 9.87 percent.

Dr. Patrick Njoroge
CHAIRMAN, MONETARY POLICY COMMITTEE

January 20, 2016

The Monetary Policy Committee (MPC) met on January 20th 2016, mind to review market developments and the outcomes of its previous monetary policy decisions. The Committee noted the following developments:

In view of the developments noted above, the Committee concluded that the current inflation pressures are temporary, and that the monetary policy measures currently in place are containing any demand pressures in the economy. The MPC therefore decided to retain the CBR at 11.50 percent in order to continue to anchor inflation expectations.

The CBK will continue to use the instruments at its disposal to maintain overall price stability while ensuring stability in the financial sector. Considering the above, and in order to ensure market stability, the CBK reviewed the Kenya Banks’ Reference Rate (KBRR) and decided to retain it at its current level of 9.87 percent.

Dr. Patrick Njoroge
CHAIRMAN, MONETARY POLICY COMMITTEE

January 20, 2016

The Monetary Policy Committee (MPC) met on January 20, viagra buy salve 2016, to review market developments and the outcomes of its previous monetary policy decisions. The Committee noted the following developments:

 

The Monetary Policy Committee (MPC) met on January 20th 2016, mind to review market developments and the outcomes of its previous monetary policy decisions. The Committee noted the following developments:

In view of the developments noted above, the Committee concluded that the current inflation pressures are temporary, and that the monetary policy measures currently in place are containing any demand pressures in the economy. The MPC therefore decided to retain the CBR at 11.50 percent in order to continue to anchor inflation expectations.

The CBK will continue to use the instruments at its disposal to maintain overall price stability while ensuring stability in the financial sector. Considering the above, and in order to ensure market stability, the CBK reviewed the Kenya Banks’ Reference Rate (KBRR) and decided to retain it at its current level of 9.87 percent.

Dr. Patrick Njoroge
CHAIRMAN, MONETARY POLICY COMMITTEE

January 20, 2016

The Monetary Policy Committee (MPC) met on January 20, viagra buy salve 2016, to review market developments and the outcomes of its previous monetary policy decisions. The Committee noted the following developments:

 
The Monetary Policy Committee (MPC) met on January 20, cialis usa case 2016, to review market developments and the outcomes of its previous monetary policy decisions. The Committee noted the following developments:

 

 

The Monetary Policy Committee (MPC) met on January 20th 2016, mind to review market developments and the outcomes of its previous monetary policy decisions. The Committee noted the following developments:

In view of the developments noted above, the Committee concluded that the current inflation pressures are temporary, and that the monetary policy measures currently in place are containing any demand pressures in the economy. The MPC therefore decided to retain the CBR at 11.50 percent in order to continue to anchor inflation expectations.

The CBK will continue to use the instruments at its disposal to maintain overall price stability while ensuring stability in the financial sector. Considering the above, and in order to ensure market stability, the CBK reviewed the Kenya Banks’ Reference Rate (KBRR) and decided to retain it at its current level of 9.87 percent.

Dr. Patrick Njoroge
CHAIRMAN, MONETARY POLICY COMMITTEE

January 20, 2016

The Monetary Policy Committee (MPC) met on January 20, viagra buy salve 2016, to review market developments and the outcomes of its previous monetary policy decisions. The Committee noted the following developments:

 
The Monetary Policy Committee (MPC) met on January 20, cialis usa case 2016, to review market developments and the outcomes of its previous monetary policy decisions. The Committee noted the following developments:

 

 
The Monetary Policy Committee (MPC) met on January 20, viagra canada ampoule 2016, to review market developments and the outcomes of its previous monetary policy decisions. The Committee noted the following developments:

Month-on-month overall inflation was 8.0 percent in December 2015, up from 7.3 percent in November, and above the 7.5 percent upper bound of the Government’s target range. The increase was driven largely by food prices, and the main items were Irish potatoes, tomatoes, kales (sukuma wiki), carrots, cabbages, onions, beef with bones, and avocados. These items contributed 2.3 percentage points to overall inflation and 6.3 percentage points to food inflation in December 2015. Many of these items are seasonal and fast-growing, and their impact on inflation is expected to dissipate by April.

New Excise Taxes on alcoholic beverages and tobacco products, introduced on December 1, contributed 0.3 percentage points to overall inflation and 1.2 percentage points to the non-food-non-fuel (NFNF) inflation. The NFNF inflation increased to 5.6 percent in December from 4.8 percent in November. While the 3-month annualised NFNF inflation increased as a result of the new Excise Taxes, there were no evident adverse demand pressures in the economy.

 

 

 

The Monetary Policy Committee (MPC) met on January 20th 2016, mind to review market developments and the outcomes of its previous monetary policy decisions. The Committee noted the following developments:

In view of the developments noted above, the Committee concluded that the current inflation pressures are temporary, and that the monetary policy measures currently in place are containing any demand pressures in the economy. The MPC therefore decided to retain the CBR at 11.50 percent in order to continue to anchor inflation expectations.

The CBK will continue to use the instruments at its disposal to maintain overall price stability while ensuring stability in the financial sector. Considering the above, and in order to ensure market stability, the CBK reviewed the Kenya Banks’ Reference Rate (KBRR) and decided to retain it at its current level of 9.87 percent.

Dr. Patrick Njoroge
CHAIRMAN, MONETARY POLICY COMMITTEE

January 20, 2016

The Monetary Policy Committee (MPC) met on January 20, viagra buy salve 2016, to review market developments and the outcomes of its previous monetary policy decisions. The Committee noted the following developments:

 
The Monetary Policy Committee (MPC) met on January 20, cialis usa case 2016, to review market developments and the outcomes of its previous monetary policy decisions. The Committee noted the following developments:

 

 
The Monetary Policy Committee (MPC) met on January 20, viagra canada ampoule 2016, to review market developments and the outcomes of its previous monetary policy decisions. The Committee noted the following developments:

Month-on-month overall inflation was 8.0 percent in December 2015, up from 7.3 percent in November, and above the 7.5 percent upper bound of the Government’s target range. The increase was driven largely by food prices, and the main items were Irish potatoes, tomatoes, kales (sukuma wiki), carrots, cabbages, onions, beef with bones, and avocados. These items contributed 2.3 percentage points to overall inflation and 6.3 percentage points to food inflation in December 2015. Many of these items are seasonal and fast-growing, and their impact on inflation is expected to dissipate by April.

New Excise Taxes on alcoholic beverages and tobacco products, introduced on December 1, contributed 0.3 percentage points to overall inflation and 1.2 percentage points to the non-food-non-fuel (NFNF) inflation. The NFNF inflation increased to 5.6 percent in December from 4.8 percent in November. While the 3-month annualised NFNF inflation increased as a result of the new Excise Taxes, there were no evident adverse demand pressures in the economy.

 

 

 
The Monetary Policy Committee (MPC) met on January 20, viagra viagra
2016, to review market developments and the outcomes of its previous monetary policy decisions. The Committee noted the following developments:

Month-on-month overall inflation was 8.0 percent in December 2015, search up from 7.3 percent in November, and above the 7.5 percent upper bound of the Government’s target range. The increase was driven largely by food prices, and the main items were Irish potatoes, tomatoes, kales (sukuma wiki), carrots, cabbages, onions, beef with bones, and avocados. These items contributed 2.3 percentage points to overall inflation and 6.3 percentage points to food inflation in December 2015. Many of these items are seasonal and fast-growing, and their impact on inflation is expected to dissipate by April.

New Excise Taxes on alcoholic beverages and tobacco products, introduced on December 1, contributed 0.3 percentage points to overall inflation and 1.2 percentage points to the non-food-non-fuel (NFNF) inflation. The NFNF inflation increased to 5.6 percent in December from 4.8 percent in November. While the 3-month annualised NFNF inflation increased as a result of the new Excise Taxes, there were no evident adverse demand pressures in the economy.

 

 

 

 

The Monetary Policy Committee (MPC) met on January 20th 2016, mind to review market developments and the outcomes of its previous monetary policy decisions. The Committee noted the following developments:

In view of the developments noted above, the Committee concluded that the current inflation pressures are temporary, and that the monetary policy measures currently in place are containing any demand pressures in the economy. The MPC therefore decided to retain the CBR at 11.50 percent in order to continue to anchor inflation expectations.

The CBK will continue to use the instruments at its disposal to maintain overall price stability while ensuring stability in the financial sector. Considering the above, and in order to ensure market stability, the CBK reviewed the Kenya Banks’ Reference Rate (KBRR) and decided to retain it at its current level of 9.87 percent.

Dr. Patrick Njoroge
CHAIRMAN, MONETARY POLICY COMMITTEE

January 20, 2016

The Monetary Policy Committee (MPC) met on January 20, viagra buy salve 2016, to review market developments and the outcomes of its previous monetary policy decisions. The Committee noted the following developments:

 
The Monetary Policy Committee (MPC) met on January 20, cialis usa case 2016, to review market developments and the outcomes of its previous monetary policy decisions. The Committee noted the following developments:

 

 
The Monetary Policy Committee (MPC) met on January 20, viagra canada ampoule 2016, to review market developments and the outcomes of its previous monetary policy decisions. The Committee noted the following developments:

Month-on-month overall inflation was 8.0 percent in December 2015, up from 7.3 percent in November, and above the 7.5 percent upper bound of the Government’s target range. The increase was driven largely by food prices, and the main items were Irish potatoes, tomatoes, kales (sukuma wiki), carrots, cabbages, onions, beef with bones, and avocados. These items contributed 2.3 percentage points to overall inflation and 6.3 percentage points to food inflation in December 2015. Many of these items are seasonal and fast-growing, and their impact on inflation is expected to dissipate by April.

New Excise Taxes on alcoholic beverages and tobacco products, introduced on December 1, contributed 0.3 percentage points to overall inflation and 1.2 percentage points to the non-food-non-fuel (NFNF) inflation. The NFNF inflation increased to 5.6 percent in December from 4.8 percent in November. While the 3-month annualised NFNF inflation increased as a result of the new Excise Taxes, there were no evident adverse demand pressures in the economy.

 

 

 
The Monetary Policy Committee (MPC) met on January 20, viagra viagra
2016, to review market developments and the outcomes of its previous monetary policy decisions. The Committee noted the following developments:

Month-on-month overall inflation was 8.0 percent in December 2015, search up from 7.3 percent in November, and above the 7.5 percent upper bound of the Government’s target range. The increase was driven largely by food prices, and the main items were Irish potatoes, tomatoes, kales (sukuma wiki), carrots, cabbages, onions, beef with bones, and avocados. These items contributed 2.3 percentage points to overall inflation and 6.3 percentage points to food inflation in December 2015. Many of these items are seasonal and fast-growing, and their impact on inflation is expected to dissipate by April.

New Excise Taxes on alcoholic beverages and tobacco products, introduced on December 1, contributed 0.3 percentage points to overall inflation and 1.2 percentage points to the non-food-non-fuel (NFNF) inflation. The NFNF inflation increased to 5.6 percent in December from 4.8 percent in November. While the 3-month annualised NFNF inflation increased as a result of the new Excise Taxes, there were no evident adverse demand pressures in the economy.

 

 

 

 

The Monetary Policy Committee (MPC) met on January 20, best viagra clinic 2016, viagra generic to review market developments and the outcomes of its previous monetary policy decisions. The Committee noted the following developments:

In view of the developments noted above, the Committee concluded that the current inflation pressures are temporary, and that the monetary policy measures currently in place are containing any demand pressures in the economy. The MPC therefore decided to retain the CBR at 11.50 percent in order to continue to anchor inflation expectations.

The CBK will continue to use the instruments at its disposal to maintain overall price stability while ensuring stability in the financial sector. Considering the above, and in order to ensure market stability, the CBK reviewed the Kenya Banks’ Reference Rate (KBRR) and decided to retain it at its current level of 9.87 percent.

Dr. Patrick Njoroge
CHAIRMAN, MONETARY POLICY COMMITTEE

January 20, 2016

The Monetary Policy Committee (MPC) met on January 20th 2016, mind to review market developments and the outcomes of its previous monetary policy decisions. The Committee noted the following developments:

In view of the developments noted above, the Committee concluded that the current inflation pressures are temporary, and that the monetary policy measures currently in place are containing any demand pressures in the economy. The MPC therefore decided to retain the CBR at 11.50 percent in order to continue to anchor inflation expectations.

The CBK will continue to use the instruments at its disposal to maintain overall price stability while ensuring stability in the financial sector. Considering the above, and in order to ensure market stability, the CBK reviewed the Kenya Banks’ Reference Rate (KBRR) and decided to retain it at its current level of 9.87 percent.

Dr. Patrick Njoroge
CHAIRMAN, MONETARY POLICY COMMITTEE

January 20, 2016

The Monetary Policy Committee (MPC) met on January 20, viagra buy salve 2016, to review market developments and the outcomes of its previous monetary policy decisions. The Committee noted the following developments:

 
The Monetary Policy Committee (MPC) met on January 20, cialis usa case 2016, to review market developments and the outcomes of its previous monetary policy decisions. The Committee noted the following developments:

 

 
The Monetary Policy Committee (MPC) met on January 20, viagra canada ampoule 2016, to review market developments and the outcomes of its previous monetary policy decisions. The Committee noted the following developments:

Month-on-month overall inflation was 8.0 percent in December 2015, up from 7.3 percent in November, and above the 7.5 percent upper bound of the Government’s target range. The increase was driven largely by food prices, and the main items were Irish potatoes, tomatoes, kales (sukuma wiki), carrots, cabbages, onions, beef with bones, and avocados. These items contributed 2.3 percentage points to overall inflation and 6.3 percentage points to food inflation in December 2015. Many of these items are seasonal and fast-growing, and their impact on inflation is expected to dissipate by April.

New Excise Taxes on alcoholic beverages and tobacco products, introduced on December 1, contributed 0.3 percentage points to overall inflation and 1.2 percentage points to the non-food-non-fuel (NFNF) inflation. The NFNF inflation increased to 5.6 percent in December from 4.8 percent in November. While the 3-month annualised NFNF inflation increased as a result of the new Excise Taxes, there were no evident adverse demand pressures in the economy.

 

 

 
The Monetary Policy Committee (MPC) met on January 20, viagra viagra
2016, to review market developments and the outcomes of its previous monetary policy decisions. The Committee noted the following developments:

Month-on-month overall inflation was 8.0 percent in December 2015, search up from 7.3 percent in November, and above the 7.5 percent upper bound of the Government’s target range. The increase was driven largely by food prices, and the main items were Irish potatoes, tomatoes, kales (sukuma wiki), carrots, cabbages, onions, beef with bones, and avocados. These items contributed 2.3 percentage points to overall inflation and 6.3 percentage points to food inflation in December 2015. Many of these items are seasonal and fast-growing, and their impact on inflation is expected to dissipate by April.

New Excise Taxes on alcoholic beverages and tobacco products, introduced on December 1, contributed 0.3 percentage points to overall inflation and 1.2 percentage points to the non-food-non-fuel (NFNF) inflation. The NFNF inflation increased to 5.6 percent in December from 4.8 percent in November. While the 3-month annualised NFNF inflation increased as a result of the new Excise Taxes, there were no evident adverse demand pressures in the economy.

 

 

 

 

The Monetary Policy Committee (MPC) met on January 20, best viagra clinic 2016, viagra generic to review market developments and the outcomes of its previous monetary policy decisions. The Committee noted the following developments:

In view of the developments noted above, the Committee concluded that the current inflation pressures are temporary, and that the monetary policy measures currently in place are containing any demand pressures in the economy. The MPC therefore decided to retain the CBR at 11.50 percent in order to continue to anchor inflation expectations.

The CBK will continue to use the instruments at its disposal to maintain overall price stability while ensuring stability in the financial sector. Considering the above, and in order to ensure market stability, the CBK reviewed the Kenya Banks’ Reference Rate (KBRR) and decided to retain it at its current level of 9.87 percent.

Dr. Patrick Njoroge
CHAIRMAN, MONETARY POLICY COMMITTEE

January 20, 2016

The Monetary Policy Committee (MPC) met on January 20th 2016, tadalafil to review market developments and the outcomes of its previous monetary policy decisions. The Committee noted the following developments:

In view of the developments noted above, the Committee concluded that the current inflation pressures are temporary, and that the monetary policy measures currently in place are containing any demand pressures in the economy. The MPC therefore decided to retain the CBR at 11.50 percent in order to continue to anchor inflation expectations.

The CBK will continue to use the instruments at its disposal to maintain overall price stability while ensuring stability in the financial sector. Considering the above, and in order to ensure market stability, the CBK reviewed the Kenya Banks’ Reference Rate (KBRR) and decided to retain it at its current level of 9.87 percent.

Dr. Patrick Njoroge
CHAIRMAN, MONETARY POLICY COMMITTEE

January 20, 2016

The Monetary Policy Committee (MPC) met on January 30, price 2017, find to review the outcome of its previous policy decisions and recent economic developments. The meeting was held on the backdrop of increased global uncertainties.

The Committee concluded that inflation was expected to remain within the Government target range in the short term. However, the Committee noted increased uncertainties with regard to the prevailing drought conditions and risks in the global markets. The MPC therefore decided to retain the Central Bank Rate (CBR) at 10.0 percent in order to anchor inflation expectations. The Committee will continue to closely monitor developments in the domestic and global economies, and stands ready to take additional measures as necessary.

The MPC considered the Kenya Banks’ Reference Rate (KBRR) which was introduced to provide a transparent credit pricing framework. In view of the adoption of the new law capping interest rates the CBK decided to suspend the KBRR framework.

Dr. Patrick Njoroge
CHAIRMAN, MONETARY POLICY COMMITTEE

January 30, 2017

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