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FX

Topic

Money markets

Who sets the policy rate, who issues paper, and who operates the venue.

Daily Brief

File now12 mintreasury / ALM

When the T-bill result notice posts: a 12-minute file

  • Facts
  • Analysis

The habit brief: what a treasury desk files in the twelve minutes after CBK publishes a Treasury bill result notice — without inventing this week’s print.

  • The result notice is the only official print. Until it is up, the desk holds a blank.
  • Copy offered, bids, accepted amount, and the weighted average rate as the Bank prints them — then stop.
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Daily Brief

Cadence8 minALCO / treasury

How to read a CBK Monetary Policy Committee statement

  • Facts
  • Analysis

A desk method for reading an MPC statement as a primary document — rate line, diagnostics, and operations — without treating the headline as the whole decision.

  • The Monetary Policy Committee publishes a structured statement. The Central Bank Rate line is one clause, not the whole decision.
  • Inflation diagnostics, growth language, and liquidity operations sit in separate layers of the same document.
  • Desks that only quote the headline rate routinely miss the operational paragraphs that bind interbank conditions.
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Daily Brief

Cadence6 mintreasury / ALM

How to read a Treasury bill calendar without inventing the print

  • Facts
  • Analysis

A method for using CBK auction calendars and result notices as primary sources — tenors, announcement, auction, and settlement — without treating a remembered yield as a fact.

  • A T-bill week has a sequence: announcement, auction, results, settlement. Each step has its own primary document.
  • Tenors (91, 182, 364 days) are structural. The accepted yield is not — it exists only in the published result.
  • If you cannot point to the CBK result notice, you do not have a print. You have a memory.
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Explainer

Reference9 minany desk that cites a Kenyan primary

Who sets what: CBK, CMA, NSE, and the National Treasury

  • Facts
  • Analysis

A map of institutional roles in Kenya’s banking and capital-markets system — who issues, who regulates, who operates the exchange, and who sets policy rates — so a desk does not cite the wrong primary.

  • The Central Bank of Kenya sets the policy rate and supervises banks. It is not the listing authority for equities.
  • The Capital Markets Authority regulates markets and licensed persons. The NSE operates the cash equity and listed-debt venue.
  • The National Treasury is the sovereign issuer. Confusing issuer, regulator, and venue is the most common citation error we see.
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