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    Policy Brief No. 10 of 2004 on Interest Rate Management and Monetary Policy in Kenya

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    Publication Date
    2004
    Author
    Kenya Institute for Public Policy Research and Analysis (KIPPRA)
    Type
    Policy Paper
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    Kenya Institute for Public Policy Research and Analysis (KIPPRA)
    Abstract/Overview

    The Economic Recovery Strategy (ERS) for the period 2003-2007 emphasizes on the role of the private sector as the engine for economic growth, while the Investment Programme (2003) points out the need to enhance private sector investment. In the ERS, the government emphasizes the need to achieve an interest rate structure that promotes financial savings and ensures efficient allocation of the same. To meet these objectives, bank interest rates should reflect the true cost of capital in order to enhance mobilization and efficient allocation of financial capital. Consequently, management of the liberalized interest rates must be strengthened. The Central Bank of Kenya has the responsibility to manage the liberalized interest rates. However, the effectiveness of doing so depends on operations of the monetary policy and the competitiveness of the financial sector. In this regard, the government proposes various monetary policy reforms to enable the Bank gain independence, public confidence and become more effective...

    Subject/Keywords
    Monetary policy; Interest rate management; Economic recovery strategy; Financial sector; Central Bank of Kenya; Interest rate
    Further Details

    A policy brief on Interest Rate Management and Monetary Policy in Kenya.

    Publisher
    The Kenya Institute for Public Policy Research and Analysis
    Series
    Policy brief No.10 of 2004;
    Permalink
    http://repository.kippra.or.ke/handle/123456789/2631
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    • Policy Briefs [314]

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