Data from the Central Bank of Kenya (CBK) shows that cash in the tills of banks reduced by 17 per cent, from Sh56.8 billion in December last year to Sh47.1 billion in January 2021. This was a decline since January last year when money that lenders had in their tills dropped by Sh10.6 billion or 17.6 per cent. Demand deposits or money in the bank accounts that can easily be accessed also dropped by Sh5.9 billion, an indicator of increased spending in the economy. Money supplyIn August last year, when President Kenyatta lifted several restrictions, Kenyans withdrew more than Sh58.5 billion from their bank accounts. Last year, Mr Kenyatta eased the containment measures.

Source: Standard Digital March 28, 2021 17:16 UTC