C E N T R A L B A N K O F K E N Y A ANNUAL REPORT & FINANCIAL STATEMENTS 2018/19
I
To be a World Class Modern Central Bank
C E N T R A L B A N K O F K E N Y A ANNUAL REPORT & FINANCIAL STATEMENTS 2018/19
II
To be a World Class Modern Central Bank
C E N T R A L B A N K O F K E N Y A ANNUAL REPORT & FINANCIAL STATEMENTS 2018/19
III
To be a World Class Modern Central Bank
C E N T R A L B A N K O F K E N Y A ANNUAL REPORT & FINANCIAL STATEMENTS 2018/19
IVHIGHLIGHTSTo be a World Class Modern Central BankC E N T R A L B A N K O F K E N Y A ANNUAL REPORT & FINANCIAL STATEMENTS 2018/19VTo be a World Class Modern Central BankC E N T R A L B A N K O F K E N Y A ANNUAL REPORT & FINANCIAL STATEMENTS 2018/19VIABBREVIATIONS AND ACRONYMS ………………………………………………………………………………. viiFOREWORD BY THE GOVERNOR …………………………………………………………………………………. ixSTATEMENT BY THE CHAIRMAN OF THE BOARD ………………………………………………………………..x1.0 GLOBAL ECONOMY …………………………………………………………………………………………..12.0 DOMESTIC ECONOMY ………………………………………………………………………………………..42.1 Real Sector ………………………………………………………………………………………………………….. 52.2 Inflation ……………………………………………………………………………………………………………… 62.2 Balance of Payments ……………………………………………………………………………………………… 82.3 Government Budget …………………………………………………………………………………………….. 112.4 Public Debt ………………………………………………………………………………………………………… 133.0 REGIONAL INTEGRATION DEVELOPMENTS ……………………………………………………………. 164.0 CENTRAL BANK OPERATIONS ……………………………………………………………………………. 194.1 Monetary Operations …………………………………………………………………………………………… 204.2 Interest Rates …………………………………………………………………………………………………….. 234.3 Foreign Exchange Operations and Reserves Management …………………………………………….. 244.4 Banking Sector …………………………………………………………………………………………………… 254.5 Currency Operations ……………………………………………………………………………………………. 284.6 Banking Services and National Payments …………………………………………………………………. 294.7 Domestic Debt Operations …………………………………………………………………………………….. 305.0 ISSUANCE OF NEW GENERATION CURRENCY ………………………………………………………….. 326.0 FINANCIAL PERFORMANCE FOR THE YEAR ENDED JUNE 2019 ……………………………………… 35CONTENTSTo be a World Class Modern Central BankC E N T R A L B A N K O F K E N Y A ANNUAL REPORT & FINANCIAL STATEMENTS 2018/19VIIABBREVIATIONS AND ACRONYMSAACB Association of African Central Banks ACH Automated Clearing House A-I-A Appropriation in Aid AMCP African Monetary Cooperation Programme ATM Automatic Teller Machine CBK Central Bank of Kenya CBKIP Central Bank of Kenya Internship Program CBR Central Bank Rate COMESA Common Market for Eastern and SouthernAfrica CPIA Country Policy and Institutional Assessment EAC East African Community EAMU East African Monetary Union EAPS East Africa Payment System EFTs Electronic Fund Transfers Fintech Financial Technologies FY Financial Year GDP Gross Domestic Product IB Internet Banking IMF International Monetary Fund KEPSS Kenya […]