Kenyan Shilling loosing value to the Dollar
- Thread starter bollingo
- Start date
Duke of Busia
Elder Lister
Nimeona forex sai nikastuka
Stable currency.
But the pound is losing too.
Ule Msee
Lister
Could we call it hoarding financially?
Ubongo
Elder Lister
Moses Kuria
have been asking the CBK Governor to lower the Central Bank Rate to 5% and the Cash Reserve Ratio to 2% in order to shield the economy from collapsing as a result of the Corona Virus. Today Governor Njoroge has reduced the CBR rate from 8.25% to 7.25%. This is a good development but not enough to mitigate especially with a looming lockdown. I will not relent untill we lower the CBR to 5%. The Central Bank has further released Ksh 32 Billion of banks own reserves to them to boost their liquidity. This is a Sungura Mjanja tactic to avoid cutting the Cash Reserve Ratio. It is a weird methodology of arbitrariness that will not help the economy in the long term. I call upon the Governor to be bold enough to reduce the Cash Reserve Ratio to 2% so that the banks will have no option but to give the loans to SMEs. I miss Kibakinomics
@Okiya please break down for us , venye Kuria anasema
have been asking the CBK Governor to lower the Central Bank Rate to 5% and the Cash Reserve Ratio to 2% in order to shield the economy from collapsing as a result of the Corona Virus. Today Governor Njoroge has reduced the CBR rate from 8.25% to 7.25%. This is a good development but not enough to mitigate especially with a looming lockdown. I will not relent untill we lower the CBR to 5%. The Central Bank has further released Ksh 32 Billion of banks own reserves to them to boost their liquidity. This is a Sungura Mjanja tactic to avoid cutting the Cash Reserve Ratio. It is a weird methodology of arbitrariness that will not help the economy in the long term. I call upon the Governor to be bold enough to reduce the Cash Reserve Ratio to 2% so that the banks will have no option but to give the loans to SMEs. I miss Kibakinomics
@Okiya please break down for us , venye Kuria anasema
What Kuria is suggesting is a medium term measure. Right now businesses are collapsing. People want cash in their pockets now. However much you reduce the interest rates, commercial banks cannot lend to you their money if they can see that your business is not viable.
The quick win but an extremely painful one is for government to reduce VAT on essential supplies e.g. fuel.
Ule Msee
Lister
Liquid cash, not assets. Rise in converting to the available cash tops the scale.
mzeiya
Elder Lister
This dude is intelligent. I guess ni wale mnaskianga alisoma akachizi coz hakuwangi 100% kwa medulla oblongata.
Denis Young
Elder Lister
It is not all roses but sisi tunalipwa na dollar we are profiting. But we are probably getting worthless paper.