Mr. Chairman, Let me turn to growth of the banking sector and its performance, one of the main pillars of Kenya’s economic growth. Ladies and Gentlemen; Despite the local and global turbulences experienced over the past one year, the banking sector remained stable and exhibited resilience.
Tightening macro prudential policy will never be popular since the costs of doing so are obvious and the benefits much harder to pin point. Clarity regarding the objective of macro prudential policy, where responsibility lies for policy and what the accountability arrangements are, as well as the independence of the decision makers are all essential features of a strong macro prudential framework.