{"id":66,"date":"2025-04-26T06:42:34","date_gmt":"2025-04-26T06:42:34","guid":{"rendered":"https:\/\/kba.co.ke\/site25\/?page_id=66"},"modified":"2026-02-09T13:21:41","modified_gmt":"2026-02-09T10:21:41","slug":"research-notes","status":"publish","type":"page","link":"https:\/\/www.kba.co.ke\/site25\/research-notes\/","title":{"rendered":"Research Notes"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"66\" class=\"elementor elementor-66\" data-elementor-settings=\"{&quot;ha_cmc_init_switcher&quot;:&quot;no&quot;}\" data-elementor-post-type=\"page\">\n\t\t\t\t<div class=\"elementor-element elementor-element-56a6f32 e-flex e-con-boxed e-con e-parent\" data-id=\"56a6f32\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;_ha_eqh_enable&quot;:false,&quot;ekit_has_onepagescroll_dot&quot;:&quot;yes&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-625cca3 ha-has-bg-overlay elementor-widget elementor-widget-heading\" data-id=\"625cca3\" data-element_type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">One Industry . Transforming Kenya<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-98d5d75 elementor-widget elementor-widget-heading\" data-id=\"98d5d75\" data-element_type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Research Notes<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-1460b73 e-con-full e-flex e-con e-parent\" data-id=\"1460b73\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;_ha_eqh_enable&quot;:false,&quot;ekit_has_onepagescroll_dot&quot;:&quot;yes&quot;}\">\n\t\t<div class=\"elementor-element elementor-element-8a57751 e-con-full animated-slow e-flex elementor-invisible e-con e-child\" data-id=\"8a57751\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;animation&quot;:&quot;fadeInUp&quot;,&quot;animation_mobile&quot;:&quot;none&quot;,&quot;_ha_eqh_enable&quot;:false,&quot;ekit_has_onepagescroll_dot&quot;:&quot;yes&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c59fc0b elementor-widget elementor-widget-text-editor\" data-id=\"c59fc0b\" data-element_type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Research Note is a bi-monthly publication that weighs in on the Monetary Policy Committee\u2019s balancing act of ensuring financial stability and anchoring inflation expectations. It aims to offer thoughtful commentary and foster dialogue on critical monetary policy issues that impact the banking sector as well as other key players in the financial sector.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8ea6358 animated-slow e-n-tabs-mobile elementor-invisible elementor-widget elementor-widget-n-tabs\" data-id=\"8ea6358\" data-element_type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInUp&quot;,&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"nested-tabs.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"e-n-tabs\" data-widget-number=\"149578584\" aria-label=\"Tabs. Open items with Enter or Space, close with Escape and navigate using the Arrow keys.\">\n\t\t\t<div class=\"e-n-tabs-heading\" role=\"tablist\">\n\t\t\t\t\t<button id=\"e-n-tab-title-1495785841\" class=\"e-n-tab-title\" aria-selected=\"true\" data-tab-index=\"1\" role=\"tab\" tabindex=\"0\" aria-controls=\"e-n-tab-content-1495785841\" style=\"--n-tabs-title-order: 1;\">\n\t\t\t\t\t\t<span class=\"e-n-tab-title-text\">\n\t\t\t\t2026\t\t\t<\/span>\n\t\t<\/button>\n\t\t\t\t<button id=\"e-n-tab-title-1495785842\" class=\"e-n-tab-title\" aria-selected=\"false\" data-tab-index=\"2\" role=\"tab\" tabindex=\"-1\" aria-controls=\"e-n-tab-content-1495785842\" style=\"--n-tabs-title-order: 2;\">\n\t\t\t\t\t\t<span class=\"e-n-tab-title-text\">\n\t\t\t\t2025\t\t\t<\/span>\n\t\t<\/button>\n\t\t\t\t<button id=\"e-n-tab-title-1495785843\" class=\"e-n-tab-title\" aria-selected=\"false\" data-tab-index=\"3\" role=\"tab\" tabindex=\"-1\" aria-controls=\"e-n-tab-content-1495785843\" style=\"--n-tabs-title-order: 3;\">\n\t\t\t\t\t\t<span class=\"e-n-tab-title-text\">\n\t\t\t\t2024\t\t\t<\/span>\n\t\t<\/button>\n\t\t\t\t<button id=\"e-n-tab-title-1495785844\" class=\"e-n-tab-title\" aria-selected=\"false\" data-tab-index=\"4\" role=\"tab\" tabindex=\"-1\" aria-controls=\"e-n-tab-content-1495785844\" style=\"--n-tabs-title-order: 4;\">\n\t\t\t\t\t\t<span class=\"e-n-tab-title-text\">\n\t\t\t\t2023\t\t\t<\/span>\n\t\t<\/button>\n\t\t\t\t<button id=\"e-n-tab-title-1495785845\" class=\"e-n-tab-title\" aria-selected=\"false\" data-tab-index=\"5\" role=\"tab\" tabindex=\"-1\" aria-controls=\"e-n-tab-content-1495785845\" style=\"--n-tabs-title-order: 5;\">\n\t\t\t\t\t\t<span class=\"e-n-tab-title-text\">\n\t\t\t\t2022\t\t\t<\/span>\n\t\t<\/button>\n\t\t\t\t<button id=\"e-n-tab-title-1495785846\" class=\"e-n-tab-title\" aria-selected=\"false\" data-tab-index=\"6\" role=\"tab\" tabindex=\"-1\" aria-controls=\"e-n-tab-content-1495785846\" style=\"--n-tabs-title-order: 6;\">\n\t\t\t\t\t\t<span class=\"e-n-tab-title-text\">\n\t\t\t\t2021\t\t\t<\/span>\n\t\t<\/button>\n\t\t\t\t<button id=\"e-n-tab-title-1495785847\" class=\"e-n-tab-title\" aria-selected=\"false\" data-tab-index=\"7\" role=\"tab\" tabindex=\"-1\" aria-controls=\"e-n-tab-content-1495785847\" style=\"--n-tabs-title-order: 7;\">\n\t\t\t\t\t\t<span class=\"e-n-tab-title-text\">\n\t\t\t\t2020\t\t\t<\/span>\n\t\t<\/button>\n\t\t\t\t<button id=\"e-n-tab-title-1495785848\" class=\"e-n-tab-title\" aria-selected=\"false\" data-tab-index=\"8\" role=\"tab\" tabindex=\"-1\" aria-controls=\"e-n-tab-content-1495785848\" style=\"--n-tabs-title-order: 8;\">\n\t\t\t\t\t\t<span class=\"e-n-tab-title-text\">\n\t\t\t\t2019\t\t\t<\/span>\n\t\t<\/button>\n\t\t\t\t<button id=\"e-n-tab-title-1495785849\" class=\"e-n-tab-title\" aria-selected=\"false\" data-tab-index=\"9\" role=\"tab\" tabindex=\"-1\" aria-controls=\"e-n-tab-content-1495785849\" style=\"--n-tabs-title-order: 9;\">\n\t\t\t\t\t\t<span class=\"e-n-tab-title-text\">\n\t\t\t\t2018\t\t\t<\/span>\n\t\t<\/button>\n\t\t\t\t<button id=\"e-n-tab-title-14957858410\" class=\"e-n-tab-title\" aria-selected=\"false\" data-tab-index=\"10\" role=\"tab\" tabindex=\"-1\" aria-controls=\"e-n-tab-content-14957858410\" style=\"--n-tabs-title-order: 10;\">\n\t\t\t\t\t\t<span class=\"e-n-tab-title-text\">\n\t\t\t\t2017\t\t\t<\/span>\n\t\t<\/button>\n\t\t\t\t<button id=\"e-n-tab-title-14957858411\" class=\"e-n-tab-title\" aria-selected=\"false\" data-tab-index=\"11\" role=\"tab\" tabindex=\"-1\" aria-controls=\"e-n-tab-content-14957858411\" style=\"--n-tabs-title-order: 11;\">\n\t\t\t\t\t\t<span class=\"e-n-tab-title-text\">\n\t\t\t\t2016\t\t\t<\/span>\n\t\t<\/button>\n\t\t\t\t<button id=\"e-n-tab-title-14957858412\" class=\"e-n-tab-title\" aria-selected=\"false\" data-tab-index=\"12\" role=\"tab\" tabindex=\"-1\" aria-controls=\"e-n-tab-content-14957858412\" style=\"--n-tabs-title-order: 12;\">\n\t\t\t\t\t\t<span class=\"e-n-tab-title-text\">\n\t\t\t\t2015\t\t\t<\/span>\n\t\t<\/button>\n\t\t\t\t<button id=\"e-n-tab-title-14957858413\" class=\"e-n-tab-title\" aria-selected=\"false\" data-tab-index=\"13\" role=\"tab\" tabindex=\"-1\" aria-controls=\"e-n-tab-content-14957858413\" style=\"--n-tabs-title-order: 13;\">\n\t\t\t\t\t\t<span class=\"e-n-tab-title-text\">\n\t\t\t\t2014\t\t\t<\/span>\n\t\t<\/button>\n\t\t\t\t<button id=\"e-n-tab-title-14957858414\" class=\"e-n-tab-title\" aria-selected=\"false\" data-tab-index=\"14\" role=\"tab\" tabindex=\"-1\" aria-controls=\"e-n-tab-content-14957858414\" style=\"--n-tabs-title-order: 14;\">\n\t\t\t\t\t\t<span class=\"e-n-tab-title-text\">\n\t\t\t\t2013\t\t\t<\/span>\n\t\t<\/button>\n\t\t\t\t\t<\/div>\n\t\t\t<div class=\"e-n-tabs-content\">\n\t\t\t\t<div id=\"e-n-tab-content-1495785841\" role=\"tabpanel\" aria-labelledby=\"e-n-tab-title-1495785841\" data-tab-index=\"1\" style=\"--n-tabs-title-order: 1;\" class=\"e-active elementor-element elementor-element-255fded e-con-full e-flex e-con e-child\" data-id=\"255fded\" data-element_type=\"container\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false,&quot;ekit_has_onepagescroll_dot&quot;:&quot;yes&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-b4eac63 elementor-widget elementor-widget-shortcode\" data-id=\"b4eac63\" data-element_type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\"><div id=\"footable_parent_79777\"\n         class=\" footable_parent ninja_table_wrapper loading_ninja_table wp_table_data_press_parent bootstrap4 colored_table\">\n                <table data-ninja_table_instance=\"ninja_table_instance_0\" data-footable_id=\"79777\" data-filter-delay=\"1000\" aria-label=\"Research Notes - 2026\"            id=\"footable_79777\"\n           data-unique_identifier=\"ninja_table_unique_id_217705343_79777\"\n           class=\" foo-table ninja_footable foo_table_79777 ninja_table_unique_id_217705343_79777 table  nt_type_legacy_table table-striped table-bordered vertical_centered ninja_custom_color inverted footable-paging-right ninja_table_pro\">\n                <colgroup>\n                            <col class=\"ninja_column_0 \">\n                            <col class=\"ninja_column_1 \">\n                            <col class=\"ninja_column_2 \">\n                            <col class=\"ninja_column_3 \">\n                            <col class=\"ninja_column_4 \">\n                    <\/colgroup>\n        <thead>\n<tr class=\"footable-header\">\n                                                                                        <th scope=\"col\"  class=\"ninja_column_0 ninja_clmn_nm_issue \">SN<\/th><th scope=\"col\"  class=\"ninja_column_1 ninja_clmn_nm_date \">Date<\/th><th scope=\"col\"  class=\"ninja_column_2 ninja_clmn_nm_document \">DOCUMENT<\/th><th scope=\"col\"  class=\"ninja_column_3 ninja_clmn_nm_research_note \">RESEARCH NOTE<\/th><th scope=\"col\"  class=\"ninja_column_4 ninja_clmn_nm_download \">DOWNLOAD<\/th><\/tr>\n<\/thead>\n<tbody>\n\n        <tr data-row_id=\"715\" class=\"ninja_table_row_0 nt_row_id_715\">\n            <td>1.<\/td><td>February 9<\/td><td>A call to sustain the Current Monetary Policy Stance<\/td><td>Research Note 81<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"https:\/\/www.kba.co.ke\/site25\/wp-content\/uploads\/2026\/02\/Research-Note-1-of-2026.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n    <\/tbody><!--ninja_tobody_rendering_done-->\n    <\/table>\n    \n    \n    \n<\/div>\n<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div id=\"e-n-tab-content-1495785842\" role=\"tabpanel\" aria-labelledby=\"e-n-tab-title-1495785842\" data-tab-index=\"2\" style=\"--n-tabs-title-order: 2;\" class=\" elementor-element elementor-element-e24d476 e-con-full e-flex e-con e-child\" data-id=\"e24d476\" data-element_type=\"container\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false,&quot;ekit_has_onepagescroll_dot&quot;:&quot;yes&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-113b6b1 elementor-widget elementor-widget-shortcode\" data-id=\"113b6b1\" data-element_type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\"><div id=\"footable_parent_2132\"\n         class=\" footable_parent ninja_table_wrapper loading_ninja_table wp_table_data_press_parent bootstrap4 colored_table\">\n                <table data-ninja_table_instance=\"ninja_table_instance_1\" data-footable_id=\"2132\" data-filter-delay=\"1000\" aria-label=\"Research Notes - 2025\"            id=\"footable_2132\"\n           data-unique_identifier=\"ninja_table_unique_id_1544018845_2132\"\n           class=\" foo-table ninja_footable foo_table_2132 ninja_table_unique_id_1544018845_2132 table  nt_type_legacy_table table-striped table-bordered vertical_centered ninja_custom_color inverted footable-paging-right ninja_table_pro\">\n                <colgroup>\n                            <col class=\"ninja_column_0 \">\n                            <col class=\"ninja_column_1 \">\n                            <col class=\"ninja_column_2 \">\n                            <col class=\"ninja_column_3 \">\n                            <col class=\"ninja_column_4 \">\n                    <\/colgroup>\n        <thead>\n<tr class=\"footable-header\">\n                                                                                        <th scope=\"col\"  class=\"ninja_column_0 ninja_clmn_nm_issue \">SN<\/th><th scope=\"col\"  class=\"ninja_column_1 ninja_clmn_nm_date \">Date<\/th><th scope=\"col\"  class=\"ninja_column_2 ninja_clmn_nm_document \">DOCUMENT<\/th><th scope=\"col\"  class=\"ninja_column_3 ninja_clmn_nm_research_note \">RESEARCH NOTE<\/th><th scope=\"col\"  class=\"ninja_column_4 ninja_clmn_nm_download \">DOWNLOAD<\/th><\/tr>\n<\/thead>\n<tbody>\n\n        <tr data-row_id=\"696\" class=\"ninja_table_row_0 nt_row_id_696\">\n            <td>1.<\/td><td>October 2<\/td><td>There is Scope for a Further Cut in the Central Bank Rate<\/td><td>Research Note 80<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"https:\/\/www.kba.co.ke\/site25\/wp-content\/uploads\/2025\/10\/Research-Note-6_-2-October-2025.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"701\" class=\"ninja_table_row_1 nt_row_id_701\">\n            <td>2.<\/td><td>August 6<\/td><td>Amidst subdued private sector activity and anchored inflation, there is adequate headroom for a rate cut<\/td><td>Research Note 79<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"https:\/\/www.kba.co.ke\/site25\/wp-content\/uploads\/2025\/08\/Research-Note-4-5-August-2025.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"695\" class=\"ninja_table_row_2 nt_row_id_695\">\n            <td>3.<\/td><td>June 5<\/td><td>Keep the monetary policy stance unchanged to anchor price and exchange rate stability<\/td><td>Research Note 78<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"https:\/\/www.kba.co.ke\/site25\/wp-content\/uploads\/2025\/08\/Research-Note-3-June-2025.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"326\" class=\"ninja_table_row_3 nt_row_id_326\">\n            <td>4.<\/td><td>April 2<\/td><td> There is headroom for a further cut in the Central Policy Rate to support credit growth amidst anchored Inflation<\/td><td>Research Note 77<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"https:\/\/www.kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/There-is-headroom-for-a-further-cut-in-the-Central-Policy-Rate-to-support-credit-growth-amidst-anchored-Inflation.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"327\" class=\"ninja_table_row_4 nt_row_id_327\">\n            <td>5.<\/td><td>January 29<\/td><td>A call for a further Central Bank Rate cut to stimulate credit-led economic activity<\/td><td>Research Note 76<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"https:\/\/www.kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/A-call-for-a-further-Central-Bank-Rate-cut-to-stimulate-credit-led-economic-activity.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n    <\/tbody><!--ninja_tobody_rendering_done-->\n    <\/table>\n    \n    \n    \n<\/div>\n<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div id=\"e-n-tab-content-1495785843\" role=\"tabpanel\" aria-labelledby=\"e-n-tab-title-1495785843\" data-tab-index=\"3\" style=\"--n-tabs-title-order: 3;\" class=\" elementor-element elementor-element-363e7b4 e-con-full e-flex e-con e-child\" data-id=\"363e7b4\" data-element_type=\"container\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false,&quot;ekit_has_onepagescroll_dot&quot;:&quot;yes&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-028be50 elementor-widget elementor-widget-shortcode\" data-id=\"028be50\" data-element_type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\"><div id=\"footable_parent_2143\"\n         class=\" footable_parent ninja_table_wrapper loading_ninja_table wp_table_data_press_parent bootstrap4 colored_table\">\n                <table data-ninja_table_instance=\"ninja_table_instance_2\" data-footable_id=\"2143\" data-filter-delay=\"1000\" aria-label=\"Research Notes - 2024\"            id=\"footable_2143\"\n           data-unique_identifier=\"ninja_table_unique_id_1147478118_2143\"\n           class=\" foo-table ninja_footable foo_table_2143 ninja_table_unique_id_1147478118_2143 table  nt_type_legacy_table table-striped table-bordered vertical_centered ninja_custom_color inverted footable-paging-right ninja_table_pro\">\n                <colgroup>\n                            <col class=\"ninja_column_0 \">\n                            <col class=\"ninja_column_1 \">\n                            <col class=\"ninja_column_2 \">\n                            <col class=\"ninja_column_3 \">\n                            <col class=\"ninja_column_4 \">\n                    <\/colgroup>\n        <thead>\n<tr class=\"footable-header\">\n                                                                                        <th scope=\"col\"  class=\"ninja_column_0 ninja_clmn_nm_issue \">SN<\/th><th scope=\"col\"  class=\"ninja_column_1 ninja_clmn_nm_date \">Date<\/th><th scope=\"col\"  class=\"ninja_column_2 ninja_clmn_nm_document \">DOCUMENT<\/th><th scope=\"col\"  class=\"ninja_column_3 ninja_clmn_nm_research_note \">RESEARCH NOTE<\/th><th scope=\"col\"  class=\"ninja_column_4 ninja_clmn_nm_download \">DOWNLOAD<\/th><\/tr>\n<\/thead>\n<tbody>\n\n        <tr data-row_id=\"329\" class=\"ninja_table_row_0 nt_row_id_329\">\n            <td>1.<\/td><td>November 29<\/td><td>There is scope for as stronger interest rate cut to support private sector credit growth<\/td><td>Research Note 75<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/There-is-scope-for-as-stronger-interest-rate-cut-to-support-private-sector-credit-growth.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"330\" class=\"ninja_table_row_1 nt_row_id_330\">\n            <td>2.<\/td><td>October 3<\/td><td> Economic Fundamentals Support a Stronger Policy Rate Cut<\/td><td>Research Note 74<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Economic-Fundamentals-Support-a-Stronger-Policy-Rate-Cut.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"332\" class=\"ninja_table_row_2 nt_row_id_332\">\n            <td>3.<\/td><td>July 31<\/td><td>Macroeconomic Indicators Support a Hold on Monetary Policy Stance<\/td><td>Research Note 73<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Macroeconomic-Indicators-Support-a-Hold-on-Monetary-Policy-Stance.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"333\" class=\"ninja_table_row_3 nt_row_id_333\">\n            <td>4.<\/td><td>May 29<\/td><td>Macroeconomic Indicators Reflect Stability; Calling for a Hold on Monetary Policy Stance<\/td><td>Research Note 72<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Macroeconomic-Indicators-Reflect-Stability-Calling-for-a-Hold-on-Monetary-Policy-Stance.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"334\" class=\"ninja_table_row_4 nt_row_id_334\">\n            <td>5.<\/td><td>March 28<\/td><td>Foreign Exchange Market Pressures have eased off and inflation has cooled off; calling for a hold on Monetary Policy<\/td><td>Research Note 71<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Foreign-Exchange-Market-Pressures-have-eased-off-and-inflation-has-cooled-off-calling-for-a-hold-on-Monetary-Policy.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"335\" class=\"ninja_table_row_5 nt_row_id_335\">\n            <td>6.<\/td><td>January 30<\/td><td> Calling for a Hold on the Monetary Policy Stance amidst Downside Risks on the Economic Outlook<\/td><td>Research Note 70<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Calling-for-a-Hold-on-the-Monetary-Policy-Stance-amidst-Downside-Risks-on-the-Economic-Outlook.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n    <\/tbody><!--ninja_tobody_rendering_done-->\n    <\/table>\n    \n    \n    \n<\/div>\n<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div id=\"e-n-tab-content-1495785844\" role=\"tabpanel\" aria-labelledby=\"e-n-tab-title-1495785844\" data-tab-index=\"4\" style=\"--n-tabs-title-order: 4;\" class=\" elementor-element elementor-element-f1404f8 e-con-full e-flex e-con e-child\" data-id=\"f1404f8\" data-element_type=\"container\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false,&quot;ekit_has_onepagescroll_dot&quot;:&quot;yes&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-bbae9c9 elementor-widget elementor-widget-shortcode\" data-id=\"bbae9c9\" data-element_type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\"><div id=\"footable_parent_2153\"\n         class=\" footable_parent ninja_table_wrapper loading_ninja_table wp_table_data_press_parent bootstrap4 colored_table\">\n                <table data-ninja_table_instance=\"ninja_table_instance_3\" data-footable_id=\"2153\" data-filter-delay=\"1000\" aria-label=\"Research Notes - 2023\"            id=\"footable_2153\"\n           data-unique_identifier=\"ninja_table_unique_id_2001083375_2153\"\n           class=\" foo-table ninja_footable foo_table_2153 ninja_table_unique_id_2001083375_2153 table  nt_type_legacy_table table-striped table-bordered vertical_centered ninja_custom_color inverted footable-paging-right ninja_table_pro\">\n                <colgroup>\n                            <col class=\"ninja_column_0 \">\n                            <col class=\"ninja_column_1 \">\n                            <col class=\"ninja_column_2 \">\n                            <col class=\"ninja_column_3 \">\n                            <col class=\"ninja_column_4 \">\n                    <\/colgroup>\n        <thead>\n<tr class=\"footable-header\">\n                                                                                        <th scope=\"col\"  class=\"ninja_column_0 ninja_clmn_nm_issue \">SN<\/th><th scope=\"col\"  class=\"ninja_column_1 ninja_clmn_nm_date \">Date<\/th><th scope=\"col\"  class=\"ninja_column_2 ninja_clmn_nm_document \">DOCUMENT<\/th><th scope=\"col\"  class=\"ninja_column_3 ninja_clmn_nm_research_note \">RESEARCH NOTE<\/th><th scope=\"col\"  class=\"ninja_column_4 ninja_clmn_nm_download \">DOWNLOAD<\/th><\/tr>\n<\/thead>\n<tbody>\n\n        <tr data-row_id=\"336\" class=\"ninja_table_row_0 nt_row_id_336\">\n            <td>1.<\/td><td>November 29<\/td><td>Despite easing inflationary pressure, macroeconomic vulnerabilities justify the need to sustain the current stance of Monetary Policy<\/td><td>Research Note 69<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Despite-easing-inflationary-pressure-macroeconomic-vulnerabilities-justify-the-need-to-sustain-the-current-stance-of-Monetary-Policy.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"337\" class=\"ninja_table_row_1 nt_row_id_337\">\n            <td>2.<\/td><td>September 27\t<\/td><td>A call to effect a further tightening of the monetary policy stance, with rising inflationary expectations, to protect macroeconomic stability<\/td><td>Research Note 68<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/A-call-to-effect-a-further-tightening-of-the-monetary-policy-stance-with-rising-inflationary-expectations-to-protect-macroeconomic-stability.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"338\" class=\"ninja_table_row_2 nt_row_id_338\">\n            <td>3.<\/td><td>August 3\t<\/td><td>A Call To Sustain the Monetary Policy Stance Amidst a Balance of Risks<\/td><td>Research Note 67<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/A-Call-To-Sustain-the-Monetary-Policy-Stance-Amidst-a-Balance-of-Risks.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"339\" class=\"ninja_table_row_3 nt_row_id_339\">\n            <td>4.<\/td><td>May 22<\/td><td>Amidst High Inflationary Pressures and Expectations, and Waning Economic Recovery, a Hold on Interest Rates would be Appropriate<\/td><td>Research Note 66<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Amidst-High-Inflationary-Pressures-and-Expectations-and-Waning-Economic-Recovery-a-Hold-on-Interest-Rates-would-be-Appropriate.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"340\" class=\"ninja_table_row_4 nt_row_id_340\">\n            <td>5.<\/td><td>March 22\t<\/td><td>Persistent inflationary pressure calling for stronger policy action amidst weakening shilling and rising global interest rates<\/td><td>Research Note 65<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Persistent-inflationary-pressure-calling-for-stronger-policy-action-amidst-weakening-shilling-and-rising-global-interest-rates.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"341\" class=\"ninja_table_row_5 nt_row_id_341\">\n            <td>6.<\/td><td>January 23<\/td><td>Persistent inflationary pressure a midst tightening global financial conditions calls for a further policy rate hike<\/td><td>Research Note 64<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Persistent-inflationary-pressure-a-midst-tightening-global-financial-conditions-calls-for-a-further-policy-rate-hike.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n    <\/tbody><!--ninja_tobody_rendering_done-->\n    <\/table>\n    \n    \n    \n<\/div>\n<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div id=\"e-n-tab-content-1495785845\" role=\"tabpanel\" aria-labelledby=\"e-n-tab-title-1495785845\" data-tab-index=\"5\" style=\"--n-tabs-title-order: 5;\" class=\" elementor-element elementor-element-da89b12 e-con-full e-flex e-con e-child\" data-id=\"da89b12\" data-element_type=\"container\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false,&quot;ekit_has_onepagescroll_dot&quot;:&quot;yes&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-0c8da6d elementor-widget elementor-widget-shortcode\" data-id=\"0c8da6d\" data-element_type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\"><div id=\"footable_parent_2159\"\n         class=\" footable_parent ninja_table_wrapper loading_ninja_table wp_table_data_press_parent bootstrap4 colored_table\">\n                <table data-ninja_table_instance=\"ninja_table_instance_4\" data-footable_id=\"2159\" data-filter-delay=\"1000\" aria-label=\"Research Notes - 2022\"            id=\"footable_2159\"\n           data-unique_identifier=\"ninja_table_unique_id_1993372681_2159\"\n           class=\" foo-table ninja_footable foo_table_2159 ninja_table_unique_id_1993372681_2159 table  nt_type_legacy_table table-striped table-bordered vertical_centered ninja_custom_color inverted footable-paging-right ninja_table_pro\">\n                <colgroup>\n                            <col class=\"ninja_column_0 \">\n                            <col class=\"ninja_column_1 \">\n                            <col class=\"ninja_column_2 \">\n                            <col class=\"ninja_column_3 \">\n                            <col class=\"ninja_column_4 \">\n                    <\/colgroup>\n        <thead>\n<tr class=\"footable-header\">\n                                                                                        <th scope=\"col\"  class=\"ninja_column_0 ninja_clmn_nm_issue \">SN<\/th><th scope=\"col\"  class=\"ninja_column_1 ninja_clmn_nm_date \">Date<\/th><th scope=\"col\"  class=\"ninja_column_2 ninja_clmn_nm_document \">DOCUMENT<\/th><th scope=\"col\"  class=\"ninja_column_3 ninja_clmn_nm_research_note \">RESEARCH NOTE<\/th><th scope=\"col\"  class=\"ninja_column_4 ninja_clmn_nm_download \">DOWNLOAD<\/th><\/tr>\n<\/thead>\n<tbody>\n\n        <tr data-row_id=\"343\" class=\"ninja_table_row_0 nt_row_id_343\">\n            <td>1.<\/td><td>November 22\t<\/td><td>Maintain the Policy Rate unchanged at 8.25% to allow the previous rate hikes effected in May and September to be fully transmitted<\/td><td>Research Note 63<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Maintain-the-Policy-Rate-unchanged-at-8.25-to-allow-the-previous-rate-hikes-effected-in-May-and-September-to-be-fully-transmitted.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"344\" class=\"ninja_table_row_1 nt_row_id_344\">\n            <td>2.<\/td><td>September 22\t<\/td><td>A call to sustain the current monetary policy stance to support economic recovery with easing inflationary expectations<\/td><td>Research Note 62<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/A-call-to-sustain-the-current-monetary-policy-stance-to-support-economic-recovery-with-easing-inflationary-expectations.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"345\" class=\"ninja_table_row_2 nt_row_id_345\">\n            <td>3.<\/td><td>May 24<\/td><td>Tighten monetary policy stance to rein in on rising inflationary expectations and support market and macroeconomic stability in the near term<\/td><td>Research Note 61<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Tighten-monetary-policy-stance-to-rein-in-on-rising-inflationary-expectations-and-support-market-and-macroeconomic-stability-in-the-near-term.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"346\" class=\"ninja_table_row_3 nt_row_id_346\">\n            <td>4.<\/td><td>March 23<\/td><td>Amidst inflationary and economic growth trade-offs, the need to maintain policy stance is justified.<\/td><td>Research Note 60<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Amidst-inflationary-and-economic-growth-trade-offs-the-need-to-maintain-policy-stance-is-justified.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"347\" class=\"ninja_table_row_4 nt_row_id_347\">\n            <td>5.<\/td><td>January 20<\/td><td>Economic recovery is on course, but lacking the necessary anchor of a stronger growth in credit.<\/td><td>Research Note 59<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Persistent-inflationary-pressure-calling-for-stronger-policy-action-amidst-weakening-shilling-and-rising-global-interest-rates.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n    <\/tbody><!--ninja_tobody_rendering_done-->\n    <\/table>\n    \n    \n    \n<\/div>\n<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div id=\"e-n-tab-content-1495785846\" role=\"tabpanel\" aria-labelledby=\"e-n-tab-title-1495785846\" data-tab-index=\"6\" style=\"--n-tabs-title-order: 6;\" class=\" elementor-element elementor-element-c02e8a2 e-flex e-con-boxed e-con e-child\" data-id=\"c02e8a2\" data-element_type=\"container\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false,&quot;ekit_has_onepagescroll_dot&quot;:&quot;yes&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7ca8336 elementor-widget elementor-widget-shortcode\" data-id=\"7ca8336\" data-element_type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\"><div id=\"footable_parent_2170\"\n         class=\" footable_parent ninja_table_wrapper loading_ninja_table wp_table_data_press_parent bootstrap4 colored_table\">\n                <table data-ninja_table_instance=\"ninja_table_instance_5\" data-footable_id=\"2170\" data-filter-delay=\"1000\" aria-label=\"Research Notes - 2021\"            id=\"footable_2170\"\n           data-unique_identifier=\"ninja_table_unique_id_1556614723_2170\"\n           class=\" foo-table ninja_footable foo_table_2170 ninja_table_unique_id_1556614723_2170 table  nt_type_legacy_table table-striped table-bordered vertical_centered ninja_custom_color inverted footable-paging-right ninja_table_pro\">\n                <colgroup>\n                            <col class=\"ninja_column_0 \">\n                            <col class=\"ninja_column_1 \">\n                            <col class=\"ninja_column_2 \">\n                            <col class=\"ninja_column_3 \">\n                            <col class=\"ninja_column_4 \">\n                    <\/colgroup>\n        <thead>\n<tr class=\"footable-header\">\n                                                                                        <th scope=\"col\"  class=\"ninja_column_0 ninja_clmn_nm_issue \">SN<\/th><th scope=\"col\"  class=\"ninja_column_1 ninja_clmn_nm_date \">Date<\/th><th scope=\"col\"  class=\"ninja_column_2 ninja_clmn_nm_document \">DOCUMENT<\/th><th scope=\"col\"  class=\"ninja_column_3 ninja_clmn_nm_research_note \">RESEARCH NOTE<\/th><th scope=\"col\"  class=\"ninja_column_4 ninja_clmn_nm_download \">DOWNLOAD<\/th><\/tr>\n<\/thead>\n<tbody>\n\n        <tr data-row_id=\"350\" class=\"ninja_table_row_0 nt_row_id_350\">\n            <td>1.<\/td><td>November 23\t<\/td><td>The monetary policy stance remains appropriate, but a sustainable economic recovery would be anchored by a stronger growth in credit.<\/td><td>Research Note 58<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/The-monetary-policy-stance-remains-appropriate-but-a-full-thrust-towards-risk-based-pricing-will-unlock-credit-to-private-sector-and-solve-inflationary-threats-in-the-near-to-medium-term.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"351\" class=\"ninja_table_row_1 nt_row_id_351\">\n            <td>2.<\/td><td>September 23\t<\/td><td> The monetary policy stance remains appropriate, but a full thrust towards risk-based pricing will unlock credit to private sector and solve inflationary threats in the near to medium term.<\/td><td>Research Note 57<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/The-monetary-policy-stance-remains-appropriate-but-a-full-thrust-towards-risk-based-pricing-will-unlock-credit-to-private-sector-and-solve-inflationary-threats-in-the-near-to-medium-term-1.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"352\" class=\"ninja_table_row_2 nt_row_id_352\">\n            <td>3.<\/td><td>July 22\t<\/td><td>Monetary policy is already too accommodative, given the elevated credit risk, protracted uncertainty and rising inflationary pressures<\/td><td>Research Note 56<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-policy-is-already-too-accommodative-given-the-elevated-credit-risk-protracted-uncertainty-and-rising-inflationary-pressures.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"353\" class=\"ninja_table_row_3 nt_row_id_353\">\n            <td>4.<\/td><td>May 20\t<\/td><td>Credit growth in an environment of elevated risk? A steady anchor would be lending rates that reflect the evolution of the risk.<\/td><td>Research Note 55<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Credit-growth-in-an-environment-of-elevated-risk-A-steady-anchor-would-be-lending-rates-that-reflect-the-evolution-of-the-risk.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"354\" class=\"ninja_table_row_4 nt_row_id_354\">\n            <td>5.<\/td><td>March 23<\/td><td>Sustain monetary policy stance, and re-energize appropriate pricing to \u2018push the liquidity in the system towards supporting economic recovery\u2019<\/td><td>Research Note 54<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Sustain-monetary-policy-stance-and-re-energize-appropriate-pricing-to-\u2018push-the-liquidity-in-the-system-towards-supporting-economic-recovery.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"357\" class=\"ninja_table_row_5 nt_row_id_357\">\n            <td>6.<\/td><td>January 22<\/td><td>Sustain Monetary Policy Stance for Longer, but Enhance Risk-Based Pricing of Credit.<\/td><td>Research Note 53<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Sustain-Monetary-Policy-Stance-for-Longer-but-Enhance-Risk-Based-Pricing-of-Credit.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n    <\/tbody><!--ninja_tobody_rendering_done-->\n    <\/table>\n    \n    \n    \n<\/div>\n<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div id=\"e-n-tab-content-1495785847\" role=\"tabpanel\" aria-labelledby=\"e-n-tab-title-1495785847\" data-tab-index=\"7\" style=\"--n-tabs-title-order: 7;\" class=\" elementor-element elementor-element-91ec6a5 e-flex e-con-boxed e-con e-child\" data-id=\"91ec6a5\" data-element_type=\"container\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false,&quot;ekit_has_onepagescroll_dot&quot;:&quot;yes&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5d60f96 elementor-widget elementor-widget-shortcode\" data-id=\"5d60f96\" data-element_type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\"><div id=\"footable_parent_2182\"\n         class=\" footable_parent ninja_table_wrapper loading_ninja_table wp_table_data_press_parent bootstrap4 colored_table\">\n                <table data-ninja_table_instance=\"ninja_table_instance_6\" data-footable_id=\"2182\" data-filter-delay=\"1000\" aria-label=\"Research Notes - 2020\"            id=\"footable_2182\"\n           data-unique_identifier=\"ninja_table_unique_id_1610925827_2182\"\n           class=\" foo-table ninja_footable foo_table_2182 ninja_table_unique_id_1610925827_2182 table  nt_type_legacy_table table-striped table-bordered vertical_centered ninja_custom_color inverted footable-paging-right ninja_table_pro\">\n                <colgroup>\n                            <col class=\"ninja_column_0 \">\n                            <col class=\"ninja_column_1 \">\n                            <col class=\"ninja_column_2 \">\n                            <col class=\"ninja_column_3 \">\n                            <col class=\"ninja_column_4 \">\n                    <\/colgroup>\n        <thead>\n<tr class=\"footable-header\">\n                                                                                        <th scope=\"col\"  class=\"ninja_column_0 ninja_clmn_nm_issue \">SN<\/th><th scope=\"col\"  class=\"ninja_column_1 ninja_clmn_nm_date \">Date<\/th><th scope=\"col\"  class=\"ninja_column_2 ninja_clmn_nm_document \">DOCUMENT<\/th><th scope=\"col\"  class=\"ninja_column_3 ninja_clmn_nm_research_note \">RESEARCH NOTE<\/th><th scope=\"col\"  class=\"ninja_column_4 ninja_clmn_nm_download \">DOWNLOAD<\/th><\/tr>\n<\/thead>\n<tbody>\n\n        <tr data-row_id=\"358\" class=\"ninja_table_row_0 nt_row_id_358\">\n            <td>1.<\/td><td>November 24\t<\/td><td>Monetary Policy Stance: Hitting the Pause Button, Again<\/td><td>Research Note 52<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-Hitting-the-Pause-Button-Again.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"359\" class=\"ninja_table_row_1 nt_row_id_359\">\n            <td>2.<\/td><td>September 28\t<\/td><td>Monetary Policy Stance: Staying Put<\/td><td>Research Note 51<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-Staying-Put.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"360\" class=\"ninja_table_row_2 nt_row_id_360\">\n            <td>3.<\/td><td>July 28<\/td><td>Monetary Policy Stance: The Merits of a Pause<\/td><td>Research Note 50<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-The-Merits-of-a-Pause.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"361\" class=\"ninja_table_row_3 nt_row_id_361\">\n            <td>4.<\/td><td>June 25<\/td><td> Monetary Policy Stance: A Pause, But still Accommodative<\/td><td>Research Note 49<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-A-Pause-But-still-Accommodative.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"362\" class=\"ninja_table_row_4 nt_row_id_362\">\n            <td>5.<\/td><td>May 28<\/td><td>Monetary Policy Stance: A Justifiable Pause<\/td><td>Research Note 48<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-A-Justifiable-Pause.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"363\" class=\"ninja_table_row_5 nt_row_id_363\">\n            <td>6.<\/td><td>April 30<\/td><td>Monetary Policy Stance: Accommodative Bias; Choked Transmission<\/td><td>Research Note 47<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-Accommodative-Bias-Choked-Transmission.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"365\" class=\"ninja_table_row_6 nt_row_id_365\">\n            <td>7.<\/td><td>March 23\t<\/td><td>Monetary Policy Stance: A Test on Creativity<\/td><td>Research Note 46<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-A-Test-on-Creativity.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"366\" class=\"ninja_table_row_7 nt_row_id_366\">\n            <td>8.<\/td><td>January 27<\/td><td>Monetary Policy Stance: The hidden Trade-offs<\/td><td>Research Note 45<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-The-hidden-Trade-offs.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n    <\/tbody><!--ninja_tobody_rendering_done-->\n    <\/table>\n    \n    \n    \n<\/div>\n<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div id=\"e-n-tab-content-1495785848\" role=\"tabpanel\" aria-labelledby=\"e-n-tab-title-1495785848\" data-tab-index=\"8\" style=\"--n-tabs-title-order: 8;\" class=\" elementor-element elementor-element-53846b3 e-flex e-con-boxed e-con e-child\" data-id=\"53846b3\" data-element_type=\"container\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false,&quot;ekit_has_onepagescroll_dot&quot;:&quot;yes&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7bba1ee elementor-widget elementor-widget-shortcode\" data-id=\"7bba1ee\" data-element_type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\"><div id=\"footable_parent_2190\"\n         class=\" footable_parent ninja_table_wrapper loading_ninja_table wp_table_data_press_parent bootstrap4 colored_table\">\n                <table data-ninja_table_instance=\"ninja_table_instance_7\" data-footable_id=\"2190\" data-filter-delay=\"1000\" aria-label=\"Research Notes - 2019\"            id=\"footable_2190\"\n           data-unique_identifier=\"ninja_table_unique_id_2069513288_2190\"\n           class=\" foo-table ninja_footable foo_table_2190 ninja_table_unique_id_2069513288_2190 table  nt_type_legacy_table table-striped table-bordered vertical_centered ninja_custom_color inverted footable-paging-right ninja_table_pro\">\n                <colgroup>\n                            <col class=\"ninja_column_0 \">\n                            <col class=\"ninja_column_1 \">\n                            <col class=\"ninja_column_2 \">\n                            <col class=\"ninja_column_3 \">\n                            <col class=\"ninja_column_4 \">\n                    <\/colgroup>\n        <thead>\n<tr class=\"footable-header\">\n                                                                                        <th scope=\"col\"  class=\"ninja_column_0 ninja_clmn_nm_issue \">SN<\/th><th scope=\"col\"  class=\"ninja_column_1 ninja_clmn_nm_date \">Date<\/th><th scope=\"col\"  class=\"ninja_column_2 ninja_clmn_nm_document \">DOCUMENT<\/th><th scope=\"col\"  class=\"ninja_column_3 ninja_clmn_nm_research_note \">RESEARCH NOTE<\/th><th scope=\"col\"  class=\"ninja_column_4 ninja_clmn_nm_download \">DOWNLOAD<\/th><\/tr>\n<\/thead>\n<tbody>\n\n        <tr data-row_id=\"367\" class=\"ninja_table_row_0 nt_row_id_367\">\n            <td>1.<\/td><td>November 23<\/td><td>Monetary Policy Stance: A Choice at the Inflection Phase of the Credit Market<\/td><td>Research Note 44<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-A-Choice-at-the-Inflection-Phase-of-the-Credit-Market.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"368\" class=\"ninja_table_row_1 nt_row_id_368\">\n            <td>2.<\/td><td>September 23\t<\/td><td>Monetary Policy Stance: Forward Guidance on a Near Term Accommodative Stance?<\/td><td>Research Note 43<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-Forward-Guidance-on-a-Near-Term-Accommodative-Stance.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"369\" class=\"ninja_table_row_2 nt_row_id_369\">\n            <td>3.<\/td><td>March 26\t<\/td><td>Monetary Policy Stance \u2013 The Juggling Game<\/td><td>Research Note 42<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-\u2013-The-Juggling-Game.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"370\" class=\"ninja_table_row_3 nt_row_id_370\">\n            <td>4.<\/td><td>January 25<\/td><td>Monetary Policy Stance \u2013 The Search for Signalling Clarity<\/td><td>Research Note 41<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-\u2013-The-Search-for-Signalling-Clarity.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n    <\/tbody><!--ninja_tobody_rendering_done-->\n    <\/table>\n    \n    \n    \n<\/div>\n<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div id=\"e-n-tab-content-1495785849\" role=\"tabpanel\" aria-labelledby=\"e-n-tab-title-1495785849\" data-tab-index=\"9\" style=\"--n-tabs-title-order: 9;\" class=\" elementor-element elementor-element-4194c2d e-flex e-con-boxed e-con e-child\" data-id=\"4194c2d\" data-element_type=\"container\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false,&quot;ekit_has_onepagescroll_dot&quot;:&quot;yes&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-3fe63e0 elementor-widget elementor-widget-shortcode\" data-id=\"3fe63e0\" data-element_type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\"><div id=\"footable_parent_2194\"\n         class=\" footable_parent ninja_table_wrapper loading_ninja_table wp_table_data_press_parent bootstrap4 colored_table\">\n                <table data-ninja_table_instance=\"ninja_table_instance_8\" data-footable_id=\"2194\" data-filter-delay=\"1000\" aria-label=\"Research Notes - 2018\"            id=\"footable_2194\"\n           data-unique_identifier=\"ninja_table_unique_id_1789717709_2194\"\n           class=\" foo-table ninja_footable foo_table_2194 ninja_table_unique_id_1789717709_2194 table  nt_type_legacy_table table-striped table-bordered vertical_centered ninja_custom_color inverted footable-paging-right ninja_table_pro\">\n                <colgroup>\n                            <col class=\"ninja_column_0 \">\n                            <col class=\"ninja_column_1 \">\n                            <col class=\"ninja_column_2 \">\n                            <col class=\"ninja_column_3 \">\n                            <col class=\"ninja_column_4 \">\n                    <\/colgroup>\n        <thead>\n<tr class=\"footable-header\">\n                                                                                        <th scope=\"col\"  class=\"ninja_column_0 ninja_clmn_nm_issue \">SN<\/th><th scope=\"col\"  class=\"ninja_column_1 ninja_clmn_nm_date \">Date<\/th><th scope=\"col\"  class=\"ninja_column_2 ninja_clmn_nm_document \">DOCUMENT<\/th><th scope=\"col\"  class=\"ninja_column_3 ninja_clmn_nm_research_note \">RESEARCH NOTE<\/th><th scope=\"col\"  class=\"ninja_column_4 ninja_clmn_nm_download \">DOWNLOAD<\/th><\/tr>\n<\/thead>\n<tbody>\n\n        <tr data-row_id=\"382\" class=\"ninja_table_row_0 nt_row_id_382\">\n            <td>1.<\/td><td>November 26\t<\/td><td>Monetary Policy Stance: Just the Right Level of Accommodation<\/td><td>Research Note 40<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-Just-the-Right-Level-of-Accommodation.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"383\" class=\"ninja_table_row_1 nt_row_id_383\">\n            <td>2.<\/td><td>September 24\t<\/td><td>Monetary Policy Stance \u2013 A balancing Act Between A Calm Surface and Stormy Undercurrents<\/td><td>Research Note 39<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-\u2013-A-balancing-Act-Between-A-Calm-Surface-and-Stormy-Undercurrents.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"384\" class=\"ninja_table_row_2 nt_row_id_384\">\n            <td>3.<\/td><td>July 30<\/td><td>Monetary Policy Stance \u2013 The Case for Resisting the Temptation to Change the Policy Stance<\/td><td>Research Note 38<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-\u2013-The-Case-for-Resisting-the-Temptation-to-Change-the-Policy-Stance.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"385\" class=\"ninja_table_row_3 nt_row_id_385\">\n            <td>4.<\/td><td>May 25<\/td><td>Monetary Policy Stance \u2013 The Inevitability of a Pause<\/td><td>Research Note 37<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-\u2013-The-Inevitability-of-a-Pause.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"389\" class=\"ninja_table_row_4 nt_row_id_389\">\n            <td>5.<\/td><td>March 20\t<\/td><td>Monetary Policy Stance: \u201cLet\u2019s Try This One More Time; Who Knows, It May Work\u201d<\/td><td>Research Note 36<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-Lets-Try-This-One-More-Time-Who-Knows-It-May-Work.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"390\" class=\"ninja_table_row_5 nt_row_id_390\">\n            <td>6.<\/td><td>March 15\t<\/td><td> Monetary Policy Stance \u2013 Resisting the Temptation to be \u201cAccommodative\u201d<\/td><td>Research Note 35<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-\u2013-Resisting-the-Temptation-to-be-Accommodative.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"391\" class=\"ninja_table_row_6 nt_row_id_391\">\n            <td>7.<\/td><td>January 22<\/td><td> Monetary Policy Stance \u2013 Threading the Thin Line<\/td><td>Research Note 34<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-\u2013-Threading-the-Thin-Line.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n    <\/tbody><!--ninja_tobody_rendering_done-->\n    <\/table>\n    \n    \n    \n<\/div>\n<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div id=\"e-n-tab-content-14957858410\" role=\"tabpanel\" aria-labelledby=\"e-n-tab-title-14957858410\" data-tab-index=\"10\" style=\"--n-tabs-title-order: 10;\" class=\" elementor-element elementor-element-bbd0238 e-flex e-con-boxed e-con e-child\" data-id=\"bbd0238\" data-element_type=\"container\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false,&quot;ekit_has_onepagescroll_dot&quot;:&quot;yes&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6fcae9d elementor-widget elementor-widget-shortcode\" data-id=\"6fcae9d\" data-element_type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\"><div id=\"footable_parent_2205\"\n         class=\" footable_parent ninja_table_wrapper loading_ninja_table wp_table_data_press_parent bootstrap4 colored_table\">\n                <table data-ninja_table_instance=\"ninja_table_instance_9\" data-footable_id=\"2205\" data-filter-delay=\"1000\" aria-label=\"Research Notes - 2017\"            id=\"footable_2205\"\n           data-unique_identifier=\"ninja_table_unique_id_488560213_2205\"\n           class=\" foo-table ninja_footable foo_table_2205 ninja_table_unique_id_488560213_2205 table  nt_type_legacy_table table-striped table-bordered vertical_centered ninja_custom_color inverted footable-paging-right ninja_table_pro\">\n                <colgroup>\n                            <col class=\"ninja_column_0 \">\n                            <col class=\"ninja_column_1 \">\n                            <col class=\"ninja_column_2 \">\n                            <col class=\"ninja_column_3 \">\n                            <col class=\"ninja_column_4 \">\n                    <\/colgroup>\n        <thead>\n<tr class=\"footable-header\">\n                                                                                        <th scope=\"col\"  class=\"ninja_column_0 ninja_clmn_nm_issue \">SN<\/th><th scope=\"col\"  class=\"ninja_column_1 ninja_clmn_nm_date \">Date<\/th><th scope=\"col\"  class=\"ninja_column_2 ninja_clmn_nm_document \">DOCUMENT<\/th><th scope=\"col\"  class=\"ninja_column_3 ninja_clmn_nm_research_note \">RESEARCH NOTE<\/th><th scope=\"col\"  class=\"ninja_column_4 ninja_clmn_nm_download \">DOWNLOAD<\/th><\/tr>\n<\/thead>\n<tbody>\n\n        <tr data-row_id=\"392\" class=\"ninja_table_row_0 nt_row_id_392\">\n            <td>1.<\/td><td>November 23<\/td><td>Monetary Policy Stance \u2013 Too Many Moving Parts Ought to Persuade a Pause<\/td><td>Research Note 33<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-\u2013-Too-Many-Moving-Parts-Ought-to-Persuade-a-Pause.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"393\" class=\"ninja_table_row_1 nt_row_id_393\">\n            <td>2.<\/td><td>September 18\t<\/td><td> Monetary Policy Stance \u2013 The Tactical Pause<\/td><td>Research Note 32<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-\u2013-The-Tactical-Pause.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"394\" class=\"ninja_table_row_2 nt_row_id_394\">\n            <td>3.<\/td><td>July 17<\/td><td>Monetary Policy Stance \u2013 Still Hamstrung!<\/td><td>Research Note 31<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-\u2013-Still-Hamstrung.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"395\" class=\"ninja_table_row_3 nt_row_id_395\">\n            <td>4.<\/td><td>May 30\t<\/td><td>Monetary Policy Stance \u2013 The Quandary<\/td><td>Research Note 30<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-\u2013-The-Quandary.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"396\" class=\"ninja_table_row_4 nt_row_id_396\">\n            <td>5.<\/td><td>March 28\t<\/td><td>Monetary Policy Stance \u2013 The Conundrum We Are Shy of Talking About!<\/td><td>Research Note 29<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-\u2013-The-Conundrum-We-Are-Shy-of-Talking-About.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"397\" class=\"ninja_table_row_5 nt_row_id_397\">\n            <td>6.<\/td><td>January 31<\/td><td>Monetary Policy Stance: Confidence in the Pause, Limited in the Signalling Candour<\/td><td>Research Note 28<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-Confidence-in-the-Pause-Limited-in-the-Signalling-Candour.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n    <\/tbody><!--ninja_tobody_rendering_done-->\n    <\/table>\n    \n    \n    \n<\/div>\n<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div id=\"e-n-tab-content-14957858411\" role=\"tabpanel\" aria-labelledby=\"e-n-tab-title-14957858411\" data-tab-index=\"11\" style=\"--n-tabs-title-order: 11;\" class=\" elementor-element elementor-element-2c5bb9f e-flex e-con-boxed e-con e-child\" data-id=\"2c5bb9f\" data-element_type=\"container\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false,&quot;ekit_has_onepagescroll_dot&quot;:&quot;yes&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-586ed03 elementor-widget elementor-widget-shortcode\" data-id=\"586ed03\" data-element_type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\"><div id=\"footable_parent_2221\"\n         class=\" footable_parent ninja_table_wrapper loading_ninja_table wp_table_data_press_parent bootstrap4 colored_table\">\n                <table data-ninja_table_instance=\"ninja_table_instance_10\" data-footable_id=\"2221\" data-filter-delay=\"1000\" aria-label=\"Research Notes - 2016\"            id=\"footable_2221\"\n           data-unique_identifier=\"ninja_table_unique_id_599172354_2221\"\n           class=\" foo-table ninja_footable foo_table_2221 ninja_table_unique_id_599172354_2221 table  nt_type_legacy_table table-striped table-bordered vertical_centered ninja_custom_color inverted footable-paging-right ninja_table_pro\">\n                <colgroup>\n                            <col class=\"ninja_column_0 \">\n                            <col class=\"ninja_column_1 \">\n                            <col class=\"ninja_column_2 \">\n                            <col class=\"ninja_column_3 \">\n                            <col class=\"ninja_column_4 \">\n                    <\/colgroup>\n        <thead>\n<tr class=\"footable-header\">\n                                                                                        <th scope=\"col\"  class=\"ninja_column_0 ninja_clmn_nm_issue \">SN<\/th><th scope=\"col\"  class=\"ninja_column_1 ninja_clmn_nm_date \">Date<\/th><th scope=\"col\"  class=\"ninja_column_2 ninja_clmn_nm_document \">DOCUMENT<\/th><th scope=\"col\"  class=\"ninja_column_3 ninja_clmn_nm_research_note \">RESEARCH NOTE<\/th><th scope=\"col\"  class=\"ninja_column_4 ninja_clmn_nm_download \">DOWNLOAD<\/th><\/tr>\n<\/thead>\n<tbody>\n\n        <tr data-row_id=\"399\" class=\"ninja_table_row_0 nt_row_id_399\">\n            <td>1.<\/td><td>November 29\t<\/td><td>Monetary Policy Stance \u2013 Waiting for the Sky to Clear!<\/td><td>Research Note 27<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-\u2013-Waiting-for-the-Sky-to-Clear.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"400\" class=\"ninja_table_row_1 nt_row_id_400\">\n            <td>2.<\/td><td>September 21\t<\/td><td>Monetary Policy Stance \u2013 The Bobby McFerrin \u201cDon\u2019t Worry, Be Happy\u201d Signal<\/td><td>Research Note 26<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-\u2013-The-Bobby-McFerrin-Dont-Worry-Be-Happy-Signal.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"401\" class=\"ninja_table_row_2 nt_row_id_401\">\n            <td>3.<\/td><td>July 26\t<\/td><td>Monetary Policy Stance \u2013 The Policy Signalling Agony!<\/td><td>Research Note 25<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-\u2013-The-Policy-Signalling-Agony.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"402\" class=\"ninja_table_row_3 nt_row_id_402\">\n            <td>4.<\/td><td>May 24<\/td><td>Monetary Policy Stance: The Delicate Balancing Act Packaged As Victory Signal<\/td><td>Research Note 24<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-The-Delicate-Balancing-Act-Packaged-As-Victory-Signal.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"403\" class=\"ninja_table_row_4 nt_row_id_403\">\n            <td>5.<\/td><td>March 22\t<\/td><td>Monetary Policy Stance: A Justifiable Defence of Policy Credibility<\/td><td>Research Note 23<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-A-Justifiable-Defence-of-Policy-Credibility.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"404\" class=\"ninja_table_row_5 nt_row_id_404\">\n            <td>6.<\/td><td>January 21<\/td><td> Monetary Policy Stance \u2013 All about Faith in the Forecast?<\/td><td>Research Note 22<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-\u2013-All-about-Faith-in-the-Forecast.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n    <\/tbody><!--ninja_tobody_rendering_done-->\n    <\/table>\n    \n    \n    \n<\/div>\n<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div id=\"e-n-tab-content-14957858412\" role=\"tabpanel\" aria-labelledby=\"e-n-tab-title-14957858412\" data-tab-index=\"12\" style=\"--n-tabs-title-order: 12;\" class=\" elementor-element elementor-element-df92035 e-flex e-con-boxed e-con e-child\" data-id=\"df92035\" data-element_type=\"container\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false,&quot;ekit_has_onepagescroll_dot&quot;:&quot;yes&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6275cbc elementor-widget elementor-widget-shortcode\" data-id=\"6275cbc\" data-element_type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\"><div id=\"footable_parent_2233\"\n         class=\" footable_parent ninja_table_wrapper loading_ninja_table wp_table_data_press_parent bootstrap4 colored_table\">\n                <table data-ninja_table_instance=\"ninja_table_instance_11\" data-footable_id=\"2233\" data-filter-delay=\"1000\" aria-label=\"Research Notes - 2015\"            id=\"footable_2233\"\n           data-unique_identifier=\"ninja_table_unique_id_333748942_2233\"\n           class=\" foo-table ninja_footable foo_table_2233 ninja_table_unique_id_333748942_2233 table  nt_type_legacy_table table-striped table-bordered vertical_centered ninja_custom_color inverted footable-paging-right ninja_table_pro\">\n                <colgroup>\n                            <col class=\"ninja_column_0 \">\n                            <col class=\"ninja_column_1 \">\n                            <col class=\"ninja_column_2 \">\n                            <col class=\"ninja_column_3 \">\n                            <col class=\"ninja_column_4 \">\n                    <\/colgroup>\n        <thead>\n<tr class=\"footable-header\">\n                                                                                        <th scope=\"col\"  class=\"ninja_column_0 ninja_clmn_nm_issue \">SN<\/th><th scope=\"col\"  class=\"ninja_column_1 ninja_clmn_nm_date \">Date<\/th><th scope=\"col\"  class=\"ninja_column_2 ninja_clmn_nm_document \">DOCUMENT<\/th><th scope=\"col\"  class=\"ninja_column_3 ninja_clmn_nm_research_note \">RESEARCH NOTE<\/th><th scope=\"col\"  class=\"ninja_column_4 ninja_clmn_nm_download \">DOWNLOAD<\/th><\/tr>\n<\/thead>\n<tbody>\n\n        <tr data-row_id=\"406\" class=\"ninja_table_row_0 nt_row_id_406\">\n            <td>1.<\/td><td>November 17\t<\/td><td> Monetary Policy Stance \u2013 The Agony of the Signal<\/td><td>Research Note 21<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-\u2013-The-Agony-of-the-Signal.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"407\" class=\"ninja_table_row_1 nt_row_id_407\">\n            <td>2.<\/td><td>September 23<\/td><td>Monetary Policy Stance \u2013 Quick at Declaring Positive Traction?<\/td><td>Research Note 20<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-\u2013-Quick-at-Declaring-Positive-Traction.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"408\" class=\"ninja_table_row_2 nt_row_id_408\">\n            <td>3.<\/td><td>August 5\t<\/td><td> Monetary Policy Stance \u2013 A justifiable Pause<\/td><td>Research Note 19<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-\u2013-A-justifiable-Pause.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"409\" class=\"ninja_table_row_3 nt_row_id_409\">\n            <td>4.<\/td><td>July 9<\/td><td>Monetary Policy Stance \u2013 Staying the Tightening Course<\/td><td>Research Note 18<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-\u2013-Staying-the-Tightening-Course.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"410\" class=\"ninja_table_row_4 nt_row_id_410\">\n            <td>5.<\/td><td>June 11<\/td><td> Monetary Policy Stance \u2013 A Pre-emptive Strike or a Reactive Response?<\/td><td>Research Note 17<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-\u2013-A-Pre-emptive-Strike-or-a-Reactive-Response.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"411\" class=\"ninja_table_row_5 nt_row_id_411\">\n            <td>6.<\/td><td>May 7<\/td><td>Monetary Policy Stance \u2013 A \u201cWait-and-See\u201d Decision?<\/td><td>Research Note 16<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-\u2013-A-Wait-and-See-Decision.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"413\" class=\"ninja_table_row_6 nt_row_id_413\">\n            <td>7.<\/td><td>February 26<\/td><td> Monetary Policy Stance \u2013 Anchoring Stability<\/td><td>Research Note 15<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-\u2013-Anchoring-Stability.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"414\" class=\"ninja_table_row_7 nt_row_id_414\">\n            <td>8.<\/td><td>January 15<\/td><td>Monetary Policy Stance \u2013 The Stability Precedent<\/td><td>Research Note 14<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-\u2013-The-Stability-Precedent.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n    <\/tbody><!--ninja_tobody_rendering_done-->\n    <\/table>\n    \n    \n    \n<\/div>\n<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div id=\"e-n-tab-content-14957858413\" role=\"tabpanel\" aria-labelledby=\"e-n-tab-title-14957858413\" data-tab-index=\"13\" style=\"--n-tabs-title-order: 13;\" class=\" elementor-element elementor-element-24df793 e-flex e-con-boxed e-con e-child\" data-id=\"24df793\" data-element_type=\"container\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false,&quot;ekit_has_onepagescroll_dot&quot;:&quot;yes&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1c86d50 elementor-widget elementor-widget-shortcode\" data-id=\"1c86d50\" data-element_type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\"><div id=\"footable_parent_2244\"\n         class=\" footable_parent ninja_table_wrapper loading_ninja_table wp_table_data_press_parent bootstrap4 colored_table\">\n                <table data-ninja_table_instance=\"ninja_table_instance_12\" data-footable_id=\"2244\" data-filter-delay=\"1000\" aria-label=\"Research Notes - 2014\"            id=\"footable_2244\"\n           data-unique_identifier=\"ninja_table_unique_id_1743160503_2244\"\n           class=\" foo-table ninja_footable foo_table_2244 ninja_table_unique_id_1743160503_2244 table  nt_type_legacy_table table-striped table-bordered vertical_centered ninja_custom_color inverted footable-paging-right ninja_table_pro\">\n                <colgroup>\n                            <col class=\"ninja_column_0 \">\n                            <col class=\"ninja_column_1 \">\n                            <col class=\"ninja_column_2 \">\n                            <col class=\"ninja_column_3 \">\n                            <col class=\"ninja_column_4 \">\n                    <\/colgroup>\n        <thead>\n<tr class=\"footable-header\">\n                                                                                        <th scope=\"col\"  class=\"ninja_column_0 ninja_clmn_nm_issue \">SN<\/th><th scope=\"col\"  class=\"ninja_column_1 ninja_clmn_nm_date \">Date<\/th><th scope=\"col\"  class=\"ninja_column_2 ninja_clmn_nm_document \">DOCUMENT<\/th><th scope=\"col\"  class=\"ninja_column_3 ninja_clmn_nm_research_note \">RESEARCH NOTE<\/th><th scope=\"col\"  class=\"ninja_column_4 ninja_clmn_nm_download \">DOWNLOAD<\/th><\/tr>\n<\/thead>\n<tbody>\n\n        <tr data-row_id=\"415\" class=\"ninja_table_row_0 nt_row_id_415\">\n            <td>1.<\/td><td>November 11<\/td><td> Monetary Policy Stance \u2013 Tailwind Support, But Caution for Turbulence Pockets Necessary<\/td><td>Research Note 13<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-\u2013-Tailwind-Support-But-Caution-for-Turbulence-Pockets-Necessary.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"416\" class=\"ninja_table_row_1 nt_row_id_416\">\n            <td>2.<\/td><td>September 4<\/td><td>Monetary Policy Stance \u2013 Banking on the Forecast, but Blunting the Signal!<\/td><td>Research Note 12<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-\u2013-Banking-on-the-Forecast-but-Blunting-the-Signal.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"417\" class=\"ninja_table_row_2 nt_row_id_417\">\n            <td>3.<\/td><td>July 9<\/td><td>Monetary Policy Stance \u2013 The Inevitability of Staying the Course<\/td><td>Research Note 11<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-\u2013-The-Inevitability-of-Staying-the-Course.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"418\" class=\"ninja_table_row_3 nt_row_id_418\">\n            <td>4.<\/td><td>April 5\t<\/td><td> Monetary Policy Stance \u2013 The Signalling Getting Better?<\/td><td>Research Note 10<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-\u2013-The-Signalling-Getting-Better.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"419\" class=\"ninja_table_row_4 nt_row_id_419\">\n            <td>5.<\/td><td>April 22<\/td><td>The Central Bank of Kenya Legal Framework Review \u2013 A Modern Central Bank in the Making?<\/td><td>Research Note 9<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/The-Central-Bank-of-Kenya-Legal-Framework-Review-\u2013-A-Modern-Central-Bank-in-the-Making.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"420\" class=\"ninja_table_row_5 nt_row_id_420\">\n            <td>6.<\/td><td>March 6<\/td><td>Monetary Policy Stance \u2013 A Sound Decision Signalling Policy Credibility<\/td><td>Research Note 8<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-\u2013-A-Sound-Decision-Signalling-Policy-Credibility.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"421\" class=\"ninja_table_row_6 nt_row_id_421\">\n            <td>7.<\/td><td>January 16<\/td><td> Monetary Policy Stance \u2013 Economics Justifiably Carries the Day!<\/td><td>Research Note 7<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-\u2013-Economics-Justifiably-Carries-the-Day.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n    <\/tbody><!--ninja_tobody_rendering_done-->\n    <\/table>\n    \n    \n    \n<\/div>\n<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div id=\"e-n-tab-content-14957858414\" role=\"tabpanel\" aria-labelledby=\"e-n-tab-title-14957858414\" data-tab-index=\"14\" style=\"--n-tabs-title-order: 14;\" class=\" elementor-element elementor-element-987b935 e-con-full e-flex e-con e-child\" data-id=\"987b935\" data-element_type=\"container\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false,&quot;ekit_has_onepagescroll_dot&quot;:&quot;yes&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-301b776 elementor-widget elementor-widget-shortcode\" data-id=\"301b776\" data-element_type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\"><div id=\"footable_parent_2252\"\n         class=\" footable_parent ninja_table_wrapper loading_ninja_table wp_table_data_press_parent bootstrap4 colored_table\">\n                <table data-ninja_table_instance=\"ninja_table_instance_13\" data-footable_id=\"2252\" data-filter-delay=\"1000\" aria-label=\"Research Notes - 2013\"            id=\"footable_2252\"\n           data-unique_identifier=\"ninja_table_unique_id_520401028_2252\"\n           class=\" foo-table ninja_footable foo_table_2252 ninja_table_unique_id_520401028_2252 table  nt_type_legacy_table table-striped table-bordered vertical_centered ninja_custom_color inverted footable-paging-right ninja_table_pro\">\n                <colgroup>\n                            <col class=\"ninja_column_0 \">\n                            <col class=\"ninja_column_1 \">\n                            <col class=\"ninja_column_2 \">\n                            <col class=\"ninja_column_3 \">\n                            <col class=\"ninja_column_4 \">\n                    <\/colgroup>\n        <thead>\n<tr class=\"footable-header\">\n                                                                                        <th scope=\"col\"  class=\"ninja_column_0 ninja_clmn_nm_issue \">SN<\/th><th scope=\"col\"  class=\"ninja_column_1 ninja_clmn_nm_date \">Date<\/th><th scope=\"col\"  class=\"ninja_column_2 ninja_clmn_nm_document \">DOCUMENT<\/th><th scope=\"col\"  class=\"ninja_column_3 ninja_clmn_nm_research_note \">RESEARCH NOTE<\/th><th scope=\"col\"  class=\"ninja_column_4 ninja_clmn_nm_download \">DOWNLOAD<\/th><\/tr>\n<\/thead>\n<tbody>\n\n        <tr data-row_id=\"430\" class=\"ninja_table_row_0 nt_row_id_430\">\n            <td>1.<\/td><td>December 18<\/td><td>The East African Monetary Union \u2013 An Opportunity for Reflection<\/td><td>Research Note 6<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/The-East-African-Monetary-Union-\u2013-An-Opportunity-for-Reflection.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"431\" class=\"ninja_table_row_1 nt_row_id_431\">\n            <td>2.<\/td><td>November 7<\/td><td>Monetary Policy Stance \u2013 Eventually it is all about Inflation!<\/td><td>Research Note 5<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-\u2013-Eventually-it-is-all-about-Inflation.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"432\" class=\"ninja_table_row_2 nt_row_id_432\">\n            <td>3.<\/td><td>September 5<\/td><td>Monetary Policy Stance: A Temptation to Juice up Growth?<\/td><td>Research Note 4<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-A-Temptation-to-Juice-up-Growth.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"433\" class=\"ninja_table_row_3 nt_row_id_433\">\n            <td>4.<\/td><td>July 10<\/td><td> Monetary Policy Stance: A Sort-of Pause Before Correction?<\/td><td>Research Note 3<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-A-Sort-of-Pause-Before-Correction.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"434\" class=\"ninja_table_row_4 nt_row_id_434\">\n            <td>5.<\/td><td>May 9<\/td><td>Monetary Policy Stance: A harbinger of Activism?<\/td><td>Research Note 2<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-A-harbinger-of-Activism.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n            <tr data-row_id=\"435\" class=\"ninja_table_row_5 nt_row_id_435\">\n            <td>6.<\/td><td>March 14\t<\/td><td>Monetary Policy Stance: Qualified Optimism<\/td><td>Research Note 1<\/td><td><a target=\"_blank\"  class=\"nt_btn nt_rounded_btn\" style=\"color: rgba(255, 255, 255, 1);background-color: rgba(247, 143, 30, 1);\" rel=\"\" href=\"http:\/\/kba.co.ke\/site25\/wp-content\/uploads\/2025\/05\/Monetary-Policy-Stance-Qualified-Optimism.pdf\">DOWNLOAD<\/a><\/td>        <\/tr>\n    <\/tbody><!--ninja_tobody_rendering_done-->\n    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class=\"elementor-icon-list-text\">Surveys<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/kba.co.ke\/site25\/banking-industry-report\/\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"hm hm-finger-touch\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Banking Industry Report<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/kba.co.ke\/site25\/call-for-papers\/\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"hm hm-finger-touch\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Call For Papers<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/kba.co.ke\/site25\/conference-bulletin\/\" target=\"_blank\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"hm hm-finger-touch\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Conference Bulletin<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/kba.co.ke\/site25\/conference-programme\/\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"hm hm-finger-touch\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Conference Programme<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>One Industry . Transforming Kenya Research Notes Research Note is a bi-monthly publication that weighs in on the Monetary Policy Committee\u2019s balancing act of ensuring financial stability and anchoring inflation expectations. It aims to offer thoughtful commentary and foster dialogue on critical monetary policy issues that impact the banking sector as well as other key [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"footnotes":""},"class_list":["post-66","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/www.kba.co.ke\/site25\/wp-json\/wp\/v2\/pages\/66","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.kba.co.ke\/site25\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.kba.co.ke\/site25\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.kba.co.ke\/site25\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kba.co.ke\/site25\/wp-json\/wp\/v2\/comments?post=66"}],"version-history":[{"count":46,"href":"https:\/\/www.kba.co.ke\/site25\/wp-json\/wp\/v2\/pages\/66\/revisions"}],"predecessor-version":[{"id":79785,"href":"https:\/\/www.kba.co.ke\/site25\/wp-json\/wp\/v2\/pages\/66\/revisions\/79785"}],"wp:attachment":[{"href":"https:\/\/www.kba.co.ke\/site25\/wp-json\/wp\/v2\/media?parent=66"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}