ADVOKS GLOBAL · KENYA
Central Bank of Kenya Act
4D. Monetary Policy Advisory Committee
Edition: 2026-07-24 · In force
4D. Monetary Policy Advisory Committee
(1)There shall be a committee of the Bank, to be known as the Monetary Policy Committee of the Central Bank of Kenya, which shall have the responsibility within the Bank for formulating monetary policy.(2)The Committee shall consist of the following members—(a)the Governor, who shall be the Chairperson;(b)the Deputy Governors, who shall be deputies to the Chairperson;(c)two members appointed by the Governor from among the staff; and(d)four other members who have knowledge, experience and expertise in matters relating to finance, banking, and fiscal and monetary policy, appointed by the Cabinet Secretary;(e)the Principal Secretary to the National Treasury, or his representative, who shall be a non-voting member.(2A)Of the two members appointed under subsection (2)(c)—(a)one shall be a person with executive responsibility within the Bank for monetary policy analyses; and(b)one shall be a person with responsibility within the Bank for monetary policy operations.(3)At least two of the members appointed under subsection (2)(d) shall be women.(4)Each member appointed under subsection (2)(d) shall hold office for a term of three years and shall be eligible to be appointed for one additional term.(5)The Chairperson of the Committee shall convene a meeting of the Committee at least once every two months and shall convene an additional meeting if requested by at least four members in writing.(6)At least once every six months the Committee shall submit a report to the Cabinet Secretary with respect to its activities and the Cabinet Secretary shall lay a copy of each report before the National Assembly.(7)The quorum of the Committee shall be five members, one of whom must be the Chairperson or vice-Chairperson.(8)The Bank shall provide staff to assist the Committee.