This archive report was first published on 11 June 2020.
The Central Bank of Kenya (CBK) has scheduled its next Monetary Policy Committee (MPC) meeting for June 30th, 2020, as the country continues to grapple with the economic effects of the global pandemic.
At its previous meeting on May 27th, the CBK maintained the benchmark rate at 7%, a decision that was influenced by the assessment of the economic impact of its policy measures deployed in March and April.
According to Dr. Patrick Njoroge, CBK Governor and MPC Chairman, the committee noted that the policy measures adopted in March and April were having the intended effect on the economy and are still being transmitted.
As a result, the MPC concluded that the current accommodative monetary policy stance remains appropriate, and therefore decided to retain the Central Bank Rate (CBR) at 7.00 percent.
