Njuguna Ndung’u: Transformation of banks in Kenya Address by Prof Njuguna Ndung’u, Governor of the Central Bank of Kenya, during the Inaugural Session of the 11th Bank Human Resources Conference 2011 of the Indian Institute of Banking and Finance, Nairobi, 28 April 2011.
However, if one were to follow the strict methodology for the dating of business cycles in the United States, the onset of a recession is marked after three consecutive quarters of negative growth. Without getting into a debate on semantics this is not the current situation in the United States.