Treasury has come out this week with all guns blazing. These guns were directed at the Central Bank of Kenya (CBK) with regards to its recent monetary policy actions. The message from Treasury was basically that CBK could be gradually losing its grip on monetary policy and it's time for it to aid the apex bank to solve the problem of the persistent double digit inflation and the weak currency.
In fact it went beyond offering help- Treasury says it will come up with a magic formula that will tackle the current inflation and currency woes and that shall be implemented immediately. The said solution was to be announced on Monday or Tuesday this week. By Wednesday evening, nothing magical had come out of Treasury.
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