The Central Bank of Kenya(CBK) has announced that it will hold the next Monetary Policy Committee(MPC) meeting on June, 25th, 2020. During the last meeting held on May 27th, the CBK team held the benchmark rate at 7%.
The committee retained the Central Bank Rate(CBR) at this level against a backdrop of the global pandemic. The MPC assessed the economic impact of its policy measures deployed in March and April.
“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. 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,” said Dr. Patrick Njoroge, CBK Governor, and MPC Chairman.