The Central Bank of Kenya Friday said its upcoming monetary policy committee (MPC) meeting will be held on Jun 25.
In the last sitting on May 27, the MPC maintained the CBR at 7.00 percent citing that the accommodative policy stance adopted in March 2020 was having the intended effects on the economy.
They however noted that the Coronavirus pandemic had continued to affect economic growth and as such, there was a need to further cushion the economy against the effects of the pandemic.
The CBK has cut Kenya’s growth prospects to 2.3 percent from their earlier projections of 3.4 percent and 6.2 percent projected in March 2020 and January 2020 respectively.
The main goal of the monetary policy is to maintain price stability and support economic growth by controlling money supply in the economy.