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Federal Reserve Bank of New Yorkの制定せる財務諸表様式について

Inflation is an critical aspect of every economy and presents a balancing act to most governments through regulatory framework. Inflation can break or break the economy of a nation. Hence policy makers in the government regulating bodies spend considerable time in developing policies aimed at achieving set targets of inflation which are geared to supporting the broader economic objectives of an economy. The Central Bank of Kenya (CBK) has responsibility of formulating and implementing monetary policy to achieve and maintain low inflation. This study set to establish the relationship of monetary policy tools and inflation in Kenya.. The study used time series empirical data on the variables to describe and examine the relationships between monetary policy tools and inflation. The study obtained secondary data on Price Index for inflation, 91-day Treasury bill rate, exchange rate, money supply (M3)and repo rate for a period of five year (2008- 2012). Analysis on the various variables obtained coefficients of correlation denoted as ‘s’ which shows the strength of relationship between monetary policy tools and inflation in Kenya. The study established that inflation and the money supply were positively correlated with each other. The study established that the general level of prices increase with the increase of money supply. The study found that the 91 treasury bill rates have an impact on the level of inflation. The findings of study show that the policy makers need critically evaluate and monitor the levels of money supply in Kenya so as to ensure a stable retail price levels. The findings also support the use 91-day Treasury bills rate in monitoring the level of prices because it has a significant effect on the level of Inflation in Kenya.

https://hrmars.com/papers_submitted/2542/Article_09_Monetary_Policy_Tools_and_Inflation_in_Kenya1.pdf

Monetary Policy Tools and Inflation in Kenya

This study contributes to the literature on inflation dynamics by examining whether internal or external factors drive inflationary pressure in Nigeria. Using the annual time series data from 1981 to 2017 and applying Johansen cointegration analysis, the vector error correction mechanism and the impulse response function, the study reveals some compelling evidence to suggest that external forces are responsible for inflationary
pressure in Nigeria. The results, amongst others, reveal that: external drivers– exchange rate, imported inflation and openness – induce a positive and direct relation to inflation. This is because a percentage change in these variables results in an increase in inflation of 0.49%, 0.47% and 4.28%, respectively, on average, ceteris
paribus; the internal drivers – government expenditures, net food exports and lending interest rate – dampen inflation by 0.48%, 1.70% and 0.02%, respectively, on average, ceteris paribus; there is evidence of cointegration indicating that 57.48% of short-run errors will be corrected in the long run; imported inflation contributes to a deviation of about 33% deviation in the first five periods and accounts for cumulative average of
over 100% deviation in inflation. Policy implications are discussed

Internal and external drivers of inflation in Nigeria

This study examines critically the nature and extent of open market operations (OMO) in the SEACEN countries and suggest policy measures which can contribute to their further development. It also investigates the prerequisites and conditions for effective implementation of OMO in this region.

Open Market Operations: Its Nature and Extent in the SEACEN Countries

Relationship between monetary policy tools and inflation in Kenya

The Micro Small and Medium Enterprises (MSMEs) are important for every nation’s economic development. They provide employment and spur the growth of multiple sectors in the economy.  The Covid-19 pandemic has negatively affected MSMEs' performance. The study seeks to demonstrate why COVID 19 may lead to the terminal quarantining of MSMEs. The study is anchored on decision usefulness and information asymmetry theories. The study adopted a descriptive research methodology and sampled MSMEs within Nairobi City County. The study used SPSS to analyze data in addition to Microsoft excel. The study found that over 70% of MSMEs had their sales decline by over 65% while 95% of them had their sales decline by over 30%. The study found that about 68% of MSMEs lacked financial management skills. The study recommends that with legal and institutional reforms, the government needs to develop a financing framework for MSMEs.

/pdf/covid-19-financial-distancing-for-msmes-in-kenya-1z256pxwsw.pdf

Covid-19 financial distancing for MSMEs in Kenya

Collateral Requirement as A Determinant of Portfolio Quality of Microfinance Institutions: Why Does It Matter? Insights from Microfinance Banks in Kenya

The purpose of this research was to determine the effect of credit risk and income diversification on commercial bank performance in Kenya. Impaired loans and total loans were used to measure credit risk. Net interest income and net non-interest income were used to measure income diversification. The study's population consisted of thirty-nine Kenyan commercial banks. The study, which spanned eight years from 2013 to 2020, relied on secondary data from audited annual financial statements. The collected data was analyzed using descriptive statistics and multiple regression analysis. Based on the findings, credit risk has a significant impact on bank performance. An increase in credit risk tends to lower the bank's financial performance in terms of profitability. The study further examined the impact of income diversification on bank performance. According to the regression results, income diversification had a significant impact on bank performance. The analysis concludes that banks and monetary authorities should devise strategies to ensure that asset quality is appropriately maintained and that non-performing loans are regulated and kept to a minimum to improve their performance. Further, given that over-diversification can affect bank performance by increasing the volatility of returns and default risk, there should be a balance between interest income and non-interest revenue as a source of income.

Nathan Mwenda Mutwiri

Papers

Monetary Policy Tools and Inflation in Kenya

Relationship between monetary policy tools and inflation in Kenya

Covid-19 financial distancing for MSMEs in Kenya

Collateral Requirement as A Determinant of Portfolio Quality of Microfinance Institutions: Why Does It Matter? Insights from Microfinance Banks in Kenya

Firm-Specific Factors and Performance of Commercial Banks in Kenya