Thugge chairs first MPC meet as CBK reserves fall by Sh22b

CBK Governor Kamau Thugge on May 30, 2023. [Boniface Okendo, Standard]

Central Bank of Kenya (CBK) Governor Kamau Thugge will today steer his first monetary policy committee (MPC) amid rising inflation and a weakening shilling.

Dr Thugge and his inflation-targeting MPC colleagues will sit this afternoon at a time the pool of critical reserves held by the CBK shrunk again after a brief jump, diminishing the apex bank's firepower to stabilise the weakening shilling amid a dollar surge.