Members of Kenya Monetary Policy Committee (MPC)

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Members of Kenya Monetary Policy Committee (MPC)

According to the Central Bank of Kenya Act, “there shall be a committee of the bank to be known as the Monetary Policy Committee of Central Bank of Kenya, which shall have the responsibility within the bank of formulating monetary policy.” 

Members of MPC 

  1. Central Bank Governor – Chair of the committee; 
    Current Governor: Dr. Patrick Njoroge 
  2. Deputy Governor of CBK – deputy chairperson; 

         Current Deputy Governor: Mrs. Sheila M’Mbijjewe  

3. Two members appointed by the Governor from among the staff; 

4. Four other members who have knowledge, experience and expertise in relation to finance, banking, fiscal and monetary policy to be appointed by the Minister (at least 2 out of the 4 members shall be women);             

  • Mr. Humphrey Mugambi Muga
  • Professor Jane Wanjiku Kabubo-Maria; 
  • Dr. Benson Akong’o Ateng; 
  • Dr. Margaret Kwengwa Chemengich

6. Principal Secretary to the Treasury or his representative (this member does not vote); 

Current PS: Dr. Julius Muia 

The members appointed by the Minister hold office for 3 years and are eligible for re-appointment for another extra one term. 

The chairperson of the Monetary Policy Committee is expected to convene a meeting at least once every two months. 

An additional meeting can be convened if at least four members request for such a meeting in writing. 

Read More: Instruments of Monetary Policy 

The law requires the Central Bank of Kenya to provide staff to assist the committee to deliver on its mandate. 

Image: Monetary Policy Committee

References 

Central Bank of Kenya Act 

Central Bank of Kenya website 

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Editor-in-Chief

Geoffrey Kerosi is a prolific Kenyan writer based in Nairobi City. He holds a Bachelors in Economics and Statistics and is currently pursuing Masters in Public Policy and Administration (MPPA) from Kenyatta University. Email: info@kerosi.com. Whatsapp: +254713 639 776 YouTube: Kerosi TV

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