Kenya
Rates round-up: Canada adds 50bp to main rate
Kenya orders first rate increase since 2015; Dominican Republic hikes 100bp; and more
Kenyan central bank to oversee digital lenders
Governor had requested “teeth” from parliament but lawmakers removed some powers
Kenya’s central bank highlights growth rebound in 2021
Inflation has fallen to 6.5% following government stabilisation efforts to stem fuel prices
Kenya’s banks told to prepare climate risk plans by 2022
Central bank publishes guidance urging banks to integrate climate risk into broader risk management
Kenyan central bank prepares further monetary policy reforms
Review recommends action to improve modelling, boost interbank market and develop education
Kenyan governor asks for powers over digital lenders
Unregulated lenders are helping create ‘ballooning household debt’, Njoroge says
People: RBA’s Debelle given second term as deputy
Iosco gets new secretary-general; Routledge takes over as Canada’s superintendent of financial institutions; new director of research for Kenya
The Belt and Road Initiative 2021 Survey – The impact of Covid‑19 on the BRI
The fourth annual Belt and Road Initiative survey reveals that the Covid‑19 pandemic has disrupted many projects despite China remaining committed to financing the initiative, which is expected to support future economic growth and environmental…
Central Bank of Kenya to liquidate bank after ‘severe violations’
Action on smaller lender comes as CBK looks to complete long-running resolution of Chase Bank
Kenya’s central bank transfers $45.6m to government
IMF approves pause in fiscal tightening as Kenyan authorities deal with impact of pandemic
Kenya strikes deal on $2.4 billion IMF package
“Multi-year effort” required to stabilise public finances and boost growth
Kenya’s central bank opens new currency centre
New facility will improve currency circulation within the region, president Kenyatta says
Kenya’s central bank looks to regulate digital lenders
Legislation before government could help central bank control high lending rates on digital products
Fears rise over breakdown in Basel and IFRS standards
Bretton Woods institutions worried about growing divergence in capital and accounting standards as credit impairment tsunami looms; US and many emerging economies skirting the rules
Libra’s Disparte on big tech’s move into digital currency
Libra Association vice-chair Dante Disparte speaks about the decision to abandon a multi-currency reserve, stress-testing a global payment network and how the Facebook-backed body still has 3 billion customers in its sights
The Belt and Road Initiative 2020 Survey – A more sustainable road to growth?
The third annual Belt and Road Initiative (BRI) survey reveals that central banks view BRI investment as sustainable compared with other forms of external debt, particularly given it is often proportionally less significant. Despite growing global trade…
Central Bank of Kenya cuts rates again
Policy-makers look to offset fiscal tightening and push economy back to potential
Government cannot ‘grab’ central bank’s resources – Njoroge
CBK governor reiterates central bank-funded bailouts “never work”, as state agencies are forced to surrender excess securities and Treasury bills
Kenya cuts rates on anchored inflation and tight fiscal outlook
Central bank reduces bank rate by 50 basis points to 8.5%
Kenyan high court dismisses challenge to new banknote series
Central bank had been accused of violating constitution with banknote designs
Mobile lending poses threat to financial stability – Kenyan governor
Njoroge says unregulated digital lenders could ‘bring down entire financial sector’
Kenyan president reappoints Njoroge as governor
Governor has been a fierce defender of Central Bank of Kenya’s independence
Kenya’s rate controls caused ‘collapse’ in credit – IMF paper
Caps undermined central bank’s control over signalling policy stance, researchers find