Central Bank of Kenya
Cash settlement shifts to central bank platform in Kenya
Cash settlement of equity and corporate bond transactions on Nairobi Securities Exchange now taking place on Central Bank of Kenya’s real-time platform
2014: The year in review
The past year has seen central banks across the globe grapple with reform, at an institutional and global level – we look back at the biggest stories of 2014
IMF encourages Kenya central bank to set-up forecast unit
Staff report with Kenya praises the evolution of the central bank’s forecasting model and recommends creation of dedicated unit; wary of rising food prices and credit growth
Kenyan governor points to financial inclusion success
Njuguna Ndung’u sees ‘bright’ future for Kenya’s financial system; points to growing financial inclusion and successful issuance of eurobond in international market
Kenyan central bank launches new interest rate
Kenyan banks are required to use a new base rate when pricing loans; central bank thinks it will boost the supply of credit to the private sector but observers are sceptical
Central Bank of Kenya backs up talk with currency intervention
Senior trader at I&M Bank explains how forex interventions have kept the exchange rate on an even keel; central bank issues statement to reinforce control of situation
Kenya could quadruple central bank capital
Kenya looks set to replace the piecemeal legislation governing the central bank; new bill would boost its capital levels, reduce government influence and increase the governor’s term
Kenyan High Court blocks charges against Ndung’u
Njuguna Ndung’u granted temporary reprieve from corruption charges after High Court intervenes, but possibility of arrest fuels fears of turbulence in the vulnerable economy
East African central banks take different approaches to rising inflation
Bank of Uganda hikes key rate by 100bp to 12% as food shortages push crop prices up by 16% in August; Central Bank of Kenya dismisses own inflationary pressures and holds rates
Kenyan governor urges bond market reform
Njuguna Ndung’u calls for a wider trading platform in the secondary market to incorporate OTC products; criticises the ‘slow pace’ of reforms so far
Kenyan central bank defends depreciating shilling
The Kenyan shilling has dropped almost 5% in value against the dollar since May; central bank insists this is a necessary rebalancing and does not pose any damaging inflationary pressures – yet
Central Bank of Kenya cracks down on crime
Report highlights ‘significant progress’ in strengthening defences against money laundering; optimistic about development of banking sector ‘despite 2013 being an election year’
Central Bank of Kenya denies seeking to strengthen currency
Kenyan shilling appreciates in run-up to elections; central bank says it only intervenes in exchange rate to support price stability
Kenyan interest rate continues to plummet
Benchmark interest rate nearly halved since September; latest cut intended to increase uptake of expanding private sector credit
Kenyan coin shortage is a public misperception, says central bank
Central Bank of Kenya says “perceived shortage” can be eradicated if members of the public raid their piggy banks
Kenya eases policy with 200bp rate cut
Central bank says financial stability has created conditions for monetary policy to be gradually eased; interest rates cut by 5.5 percentage points in two months
Kenyan coin shortage denied by central bank
Central Bank of Kenya insists there are sufficient coins in circulation; urges public to accept coins ‘without reservation’
Kenyan report reveals battle to reduce inflation
Financial stability report released by the Central Bank of Kenya paints negative picture of growth; details monetary policy’s dramatic reaction to high inflation
Kenya central bank slashes rates as others hold ahead of ECB decision
Positive developments in economy lead Kenyan central bank to make large rate cut as central banks in Australia, Canada, Israel, Thailand and Poland all keep rates on hold ahead of ECB decision
Kenyan governor under fire over banknote printing contracts
Njuguna Ndung’u faces second public attack from politicians this year; latest complaint concerns handling of tender process for printing Kenyan banknotes
Central Bank of Kenya chief promotes monetary union
Njuguna Ndung’u calls on Kenya Institute of Bankers to design training to meet the needs of a ‘dynamic regionally integrated financial sector’ ahead of monetary union in East Africa
Kenyan parliament clears central bank governor
Chaotic debates in Kenyan parliament result in Njuguna Ndung'u being cleared of personal responsibility over collapse of Kenyan shilling
Parliamentary committee calls for Kenyan governor to resign
Parliamentary Select Committee finds governor's "conduct and behaviour incompatible with the holder of the office of governor of the Central Bank of Kenya"; calls for resignation
Ndung’u discusses enhancing the supervisory framework in Kenya
Central Bank of Kenya governor Njuguna Ndung’u says issuance of new AML/CFT guidelines and payments systems oversight will improve integrity of Kenyan financial system