|
The Central Bank of Kenya was established in 1966 through
an Act of Parliament - the Central Bank of Kenya Act of 1966.
The establishment of the Bank was a direct result of the desire
among the three East African states to have independent monetary and financial
policies.
The Central Bank of Kenya Act of 1966 set out objectives and functions
and gave the Central Bank limited autonomy. Since the amendment of the
Central Bank of Kenya Act in April 1997, the Central Bank operations have
been restructured to conform with ongoing economic reforms. There is now
greater monetary autonomy.
Learn more about the Central Bank
of Kenya
24 January 2012
Tender No. CBK/25/2011-2012 for Supply of Automated Risk Management Software for the Central Bank of Kenya Download
Tender
28 December 2011
Tender No.CBK/37/2011-2012 for the Professional Design of Staff Uniforms
Download
Tender. EXTENSION OF THE OPENING DATE FROM 24TH JANUARY,2012 TO TUESDAY 7TH FEBRUARY, 2012 AT 2:30 PM
Monetary Policy Committee Meeting
01 February 2012
The Monetary Policy Committee met on 1st February, 2012 to assess the economy’s response to its previous monetary policy decisions as well as review domestic and international economic developments. The Committee noted that overall inflation continued to gradually decline for the second consecutive month, dropping from 18.93 percent in December 2011 to 18.31 percent in January 2012. This was mainly on account of easing food and fuel prices supported by the appreciation of the Kenya Shilling. In view of these developments and the need to ensure that inflation declines to levels consistent with the Government’s target, the Committee decided to retain the Central Bank Rate at 18.0 percent. Download
the Press Release
Monetary Policy Committee Meeting
11 January 2012
The Monetary Policy Committee met on 11th January, 2012 to assess the economy’s response to its previous monetary policy decisions as well as the domestic and international economic developments since its last meeting. The tight monetary policy stance adopted by the Committee has contributed to a decline in inflation with overall inflation declining from 19.72 percent in November 2011 to 18.93 percent in December 2011. This positive signal was also supported by a fall in food and fuel prices and an appreciation of the exchange rate. Consequently, the Committee considered it necessary to maintain its current tight monetary policy stance and thus retained the Central Bank Rate at 18.0 percent. Download
the Press Release
Guideline on the Appointment and Operations of Third party Agents by DTMs
22 December 2011
CBK has issued the “Guideline on the Appointment and Operations of Third
party Agents by Deposit Taking Microfinance Institutions”. The guideline
allows DTMs to contract third parties to undertake specified DTM business
on their behalf. This is expected to extend the availability of cost effective
financial services in Kenya as envisaged in Vision 2030. The guideline
comes into effect on 2nd January 2012. Download the Deposit
Taking Microfinance Circular and Guidelines
Restructuring Loans in a Regime of High Interest Rates
13 December 2011
Commercial banks have in the recent past revised their lending rates upwards in reaction to the current economic environment where high inflation has occasioned tightening of monetary policy and thus affected short term interest rates. Whereas it is imperative that the rise in inflation be addressed by tight monetary policy, it is also critical that loans already contracted continue to be serviced and also remain affordable to sustain investments and reduce the risk of default.
Download
the Press Release
Kenya Financial Sector Stability Report 2010
13 December 2011
The primary objective of the FSR 2010 is to provide the public and key stakeholders an assessment and analysis of developments and performance of the economy and the financial sector in Kenya in 2010. The report highlights major risks and vulnerabilities the economy faced; and outlines policy actions taken to mitigate those risks and vulnerabilities by the regulators, government and other domestic and international agencies. Download
the Report
CBK grants authority to the Fourth Representative Office in Kenya
- FirstRand Bank Ltd.
02 December 2011
The Central Bank of Kenya (CBK) has granted authority to the FirstRand
Bank Limited to open a Representative Office in Kenya. The authority was
granted pursuant to section 43 of the Banking Act. Representative Offices
serve as marketing and liaison offices for their foreign banks but do
not mobilise deposits. FirstRand Bank Ltd is one of South Africa's largest
banks that engages in corporate and retail banking, investment banking
and asset financing services. Currently, the bank has a presence in a
number of African countries. FirstRand Bank Ltd becomes the fourth international
bank to be granted authority to operate a Representative Office in Kenya.
Download
the Press Release
Monetary Policy Committee Meeting
01 December 2011
The Monetary Policy Committee met on 1st December, 2011 to assess the
economy's response to its previous monetary policy decisions and the economic
developments since its last meeting. The Committee noted that since inflation
continued to increase in November, 2011 and other policy measures, including
the Cash Reserve Ratio raised in the last MPC Meeting were still transmitting
through the market, it was necessary to enhance these monetary policy
actions. The Committee therefore decided to revise upwards the Central
Bank Rate by 150 basis points from 16.5 percent to 18.0 percent. This
is expected to ease inflation and contain inflationary expectations. Download
the Press Release
|