Connect with us

Hi, what are you looking for?

Capital Business
Capital Business
COURTESY

Headlines

Liquidity in Kenya’s Money Market eases in May – Cytonn

NAIROBI, Kenya, Jun 1 – Liquidity in Kenya’s money markets eased during the month of May with the average interbank rate declining to 4.1 percent, from 5.3 percent recorded in April, according to a report by Cytonn Investments.

The company said the liquidity was mainly supported by government payments and tax refunds done during the month, and the reduction of the Cash Reserve Ratio to 4.25 percent, from 5.25 percent previously, by the Monetary Policy Committee (MPC) during its March 2020 sitting.

According to the investment firm, the reduction in cash reserve ratio freed up Sh35.2 billion to provide additional liquidity to commercial banks for onward lending to distressed borrowers during the COVID-19 pandemic.

In the past week, the average interbank rate declined to 3.5 percent from 4.2 percent recorded the previous week, due to increased liquidity in the money markets due to pending bill payments and tax refunds.

“The average interbank volumes rose by 80.4 percent to Sh20.7 billion, from Sh11.5 billion recorded the previous week,” Cytonn Investments said.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...