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MPC in Kenya HIKES CBK Rate BY 400BP to 11%
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Cde Monomotapa
#81 Posted : Tuesday, October 11, 2011 9:28:46 PM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
KulaRaha wrote:
Cde Monomotapa wrote:
Cde Monomotapa wrote:
I think Prof. Ndung'u should rely on his legal security of tenure & go ahead with direct selling to oil importers and see how that pans out. Screw politicizing Kenyan livelihoods!!

Combo it with that IMF BoP support for extra ammo incase the banksters try to pull a fast one.


IMF support is $500m. Monthly shortfall is $600m.. How will it help?

FYI it is directed to oil-importers only. So sell USDs to them at a discount and watch whether it'll ease energy & fuel inflation. What's our monthly oil bill?
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Cde Monomotapa
#82 Posted : Wednesday, October 12, 2011 4:24:33 AM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
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Mainat
#83 Posted : Wednesday, October 12, 2011 8:07:44 AM
Rank: Veteran

Joined: 11/21/2006
Posts: 1,590
Guys-lets not mislead.
Ksh doesn't have a USD peg. What does happen is that most of our trade (imports/exports) are in USD, 50% of our remittances are in USD. A peg is what HKD, SGD among others have.

2ndly, there is actually some correlation but weak between USD/GBP movement and GBP/KSH vs USD/KSH-please just check the last 2 weeks when GBP/KSh has after months of lagging has gone from 151 to 167. This is despite the UK announcing a QE which should have led to weakening GBP and we announcing 400bps rise in interest rates.

Obi-I thought ZAR(Rand) was Ksh11 at the beginning of the yr and is now Ksh13?

I think CBK has done its bit. Uhuru needs to step up and offer the other side of the equation...
Sehemu ndio nyumba
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the deal
#84 Posted : Wednesday, October 12, 2011 8:22:33 AM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
Mainat wrote:
Guys-lets not mislead.
Ksh doesn't have a USD peg. What does happen is that most of our trade (imports/exports) are in USD, 50% of our remittances are in USD. A peg is what HKD, SGD among others have.

2ndly, there is actually some correlation but weak between USD/GBP movement and GBP/KSH vs USD/KSH-please just check the last 2 weeks when GBP/KSh has after months of lagging has gone from 151 to 167. This is despite the UK announcing a QE which should have led to weakening GBP and we announcing 400bps rise in interest rates.

Obi-I thought ZAR(Rand) was Ksh11 at the beginning of the yr and is now Ksh13?

I think CBK has done its bit. Uhuru needs to step up and offer the other side of the equation...

On the Rand part I remember the last time it was at this levels against the Shilling was during PEV...

Uhuru needs to put a cap on debt to gdp.

Stop expansionary budgets just to please voters.

Give incetives to manufacturers and tea farmers to drive exports.

Introduce an importation levy on all luxury goods.
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QW25081985
#85 Posted : Wednesday, October 12, 2011 9:18:06 AM
Rank: User

Joined: 8/29/2011
Posts: 1,045
Location: Mtaani
the deal wrote:
Mainat wrote:
Guys-lets not mislead.
Ksh doesn't have a USD peg. What does happen is that most of our trade (imports/exports) are in USD, 50% of our remittances are in USD. A peg is what HKD, SGD among others have.

2ndly, there is actually some correlation but weak between USD/GBP movement and GBP/KSH vs USD/KSH-please just check the last 2 weeks when GBP/KSh has after months of lagging has gone from 151 to 167. This is despite the UK announcing a QE which should have led to weakening GBP and we announcing 400bps rise in interest rates.

Obi-I thought ZAR(Rand) was Ksh11 at the beginning of the yr and is now Ksh13?

I think CBK has done its bit. Uhuru needs to step up and offer the other side of the equation...

On the Rand part I remember the last time it was at this levels against the Shilling was during PEV...

Uhuru needs to put a cap on debt to gdp.

Stop expansionary budgets just to please voters.

Give incetives to manufacturers and tea farmers to drive exports.

Introduce an importation levy on all luxury goods.




@the deal For President !!!! lol
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the deal
#86 Posted : Wednesday, October 12, 2011 9:29:17 AM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
QW25081985 wrote:
the deal wrote:
Mainat wrote:
Guys-lets not mislead.
Ksh doesn't have a USD peg. What does happen is that most of our trade (imports/exports) are in USD, 50% of our remittances are in USD. A peg is what HKD, SGD among others have.

2ndly, there is actually some correlation but weak between USD/GBP movement and GBP/KSH vs USD/KSH-please just check the last 2 weeks when GBP/KSh has after months of lagging has gone from 151 to 167. This is despite the UK announcing a QE which should have led to weakening GBP and we announcing 400bps rise in interest rates.

Obi-I thought ZAR(Rand) was Ksh11 at the beginning of the yr and is now Ksh13?

I think CBK has done its bit. Uhuru needs to step up and offer the other side of the equation...

On the Rand part I remember the last time it was at this levels against the Shilling was during PEV...

Uhuru needs to put a cap on debt to gdp.

Stop expansionary budgets just to please voters.

Give incetives to manufacturers and tea farmers to drive exports.

Introduce an importation levy on all luxury goods.




@the deal For President !!!! lol

Laughing out loudly Laughing out loudly Occupy Nairobi on the 15th!
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KulaRaha
#87 Posted : Wednesday, October 12, 2011 9:41:27 AM
Rank: Elder

Joined: 7/26/2007
Posts: 6,514
Cde Monomotapa wrote:
KulaRaha wrote:
Cde Monomotapa wrote:
Cde Monomotapa wrote:
I think Prof. Ndung'u should rely on his legal security of tenure & go ahead with direct selling to oil importers and see how that pans out. Screw politicizing Kenyan livelihoods!!

Combo it with that IMF BoP support for extra ammo incase the banksters try to pull a fast one.


IMF support is $500m. Monthly shortfall is $600m.. How will it help?

FYI it is directed to oil-importers only. So sell USDs to them at a discount and watch whether it'll ease energy & fuel inflation. What's our monthly oil bill?


Monthly oil bill for Kenya is about 20B. CBK reserves around 390B. If IMF chips in, add 50B more.

So they can pay oil bill for Kenya between them for 22 months and wipe out reserves.

Good idea?
Business opportunities are like buses,there's always another one coming
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Cde Monomotapa
#88 Posted : Wednesday, October 12, 2011 10:51:54 AM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
KulaRaha wrote:
Cde Monomotapa wrote:
KulaRaha wrote:
Cde Monomotapa wrote:
Cde Monomotapa wrote:
I think Prof. Ndung'u should rely on his legal security of tenure & go ahead with direct selling to oil importers and see how that pans out. Screw politicizing Kenyan livelihoods!!

Combo it with that IMF BoP support for extra ammo incase the banksters try to pull a fast one.


IMF support is $500m. Monthly shortfall is $600m.. How will it help?

FYI it is directed to oil-importers only. So sell USDs to them at a discount and watch whether it'll ease energy & fuel inflation. What's our monthly oil bill?


Monthly oil bill for Kenya is about 20B. CBK reserves around 390B. If IMF chips in, add 50B more.

So they can pay oil bill for Kenya between them for 22 months and wipe out reserves.

Good idea?

So they said they would equally secure USD supply from large exporters kina KTDA etc
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KulaRaha
#89 Posted : Wednesday, October 12, 2011 11:11:25 AM
Rank: Elder

Joined: 7/26/2007
Posts: 6,514
Cde Monomotapa wrote:
KulaRaha wrote:
Cde Monomotapa wrote:
KulaRaha wrote:
Cde Monomotapa wrote:
Cde Monomotapa wrote:
I think Prof. Ndung'u should rely on his legal security of tenure & go ahead with direct selling to oil importers and see how that pans out. Screw politicizing Kenyan livelihoods!!

Combo it with that IMF BoP support for extra ammo incase the banksters try to pull a fast one.


IMF support is $500m. Monthly shortfall is $600m.. How will it help?

FYI it is directed to oil-importers only. So sell USDs to them at a discount and watch whether it'll ease energy & fuel inflation. What's our monthly oil bill?


Monthly oil bill for Kenya is about 20B. CBK reserves around 390B. If IMF chips in, add 50B more.

So they can pay oil bill for Kenya between them for 22 months and wipe out reserves.

Good idea?

So they said they would equally secure USD supply from large exporters kina KTDA etc


Total dollar inflows into Kenya per month are 43B. If they capture full dollar inflows, pay oil bill 20B and keep balance 23B in reserves, what do you think will happen to the market?

Suddenly no dollars for the other importers....
Business opportunities are like buses,there's always another one coming
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kizee1
#90 Posted : Wednesday, October 12, 2011 12:17:09 PM
Rank: Member

Joined: 9/29/2010
Posts: 679
Location: nairobi
they have rescinded this bright idea, admin issues kibao, cbk think tank deserves an award..they did not think this idea through, let alone the net impact on reserves
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