Central Bank of Kenya to consult IMF when it loses handle on inflation
Central Bank of Kenya Governor Kamau Thugge before the Departmental Committee on Finance and National Planning at County Hall on May 30, 2023. PHOTO | DENNIS ONSONGO | NMG
The International Monetary Fund (IMF) has revealed a monetary policy consultation clause with the Central Bank of Kenya as it seeks to have a bigger say in the decisions taken by Kenya's apex bank in its fight to contain runaway inflation.
In its latest report, the IMF says the Central Bank of Kenya (CBK) will consult with its executive board to set the monetary policy stance when the inflation rate persistently sticks above the 7.5 percent upper ceiling.
