The Central Bank of Kenya (CBK) governor has a mandate of formulating monetary policy in order to achieve price stability, issuing currency (they did this recently), supervision of banks, lender of last resort and of course representing Kenya in international monetary meetings. Central Bank of Kenya uses tools such as Open Market Operations (OMO) among other tools.
Elsewhere, the National Treasury is directly responsible for formulating, implementing and monitoring fiscal policies in Kenya. What are we talking about here? One gentleman by the name Lord John Keynes, a British economist, convinced governments all over the world that government expenditure can have an impact on a country’s economy. This is why governments are either increasing or reducing their expenditure with the goal of achieving full-employment as one of the broad macroeconomic goals.
Read More: Ukur Yattani and Dr. Julius Muia introduced to National Treasury Staff
The lady and gentlemen you see in picture below have the Kenyan economy in their hands. The policies, regulations and decisions they make has a potential of making a large scale impact on the Kenyan economy. They are always faced by the need to solve macroeconomic problems such as unemployment, inflation, balance of payment problems, fluctuating exchange rates and slow economic growth among other issues.
Governor @njorogep and Deputy Governor M’Mbijjewe this afternoon paid a courtesy call on the newly appointed CS @BaloziYatani and PS Muia at the National Treasury. Assured the CS and PS of CBK’s support and close collaboration in the efforts to strengthen our economy. @KeTreasury pic.twitter.com/z5M1dWmvu7
— Central Bank of Kenya (@CBKKenya) July 26, 2019
