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- W3144670858 abstract "Purpose of the study: The purpose of this paper was to establish the effect of the monetary policy on financial performance of deposit taking savings and credit cooperative societies in Kenya. Statement of the problem: Monetary policy is one of the principal economic management tools that the government uses to shape economic performance. The government through the Central Bank uses monetary policy tools like open market operations, central bank rate and cash reserve ratio for commercial banks with the objective of managing multiple monetary targets. Hence the monetary policy is a key interest rate driver in financial intermediation industry that affect interest rate spread in DTS. The monetary policy therefore affects the return on assets, investment decisions and dividend policy which are part of financial performance indicators of the deposit taking SACCOs. The DTS that fail to appreciate the influence of the monetary policy on the economy are likely to experience decline in their financial performance.Research Methodology: The study used stratified random sampling technique to identify a sample of 74 deposit taking SACCOs in Kenya. Secondary data was obtained from DTS annual audited financial reports. The study employed descriptive analytical statistical methods such as mean, variances and standard deviations while inferential statistical methods used were Pearson moments of correlation and fixed effect panel regression analysis.Research Findings: The regression results revealed that monetary policy had a positive coefficient of 1.09 and p-value of 0.226.Conclusion: The study concluded that at 5% significant level, there was statistically insignificant relationship between monetary policy and financial performance of DT SACCOs in Kenya.Recommendations: The study recommended the deposit taking SACCOs to take proactive measures aimed at ensuring external borrowing is reduced to bare minimum so as to obviate the risks associated with interest rate changes caused by monetary policy. They should consider venturing in low risk government securities.Keywords: Monetary Policy, Interest Rate, Deposit Taking SACCOs, Central Bank of Kenya, Financial Performance" @default.
- W3144670858 created "2021-04-13" @default.
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- W3144670858 date "2021-03-09" @default.
- W3144670858 modified "2023-09-27" @default.
- W3144670858 title "INFLUENCE OF MONETARY POLICY ON FINANCIAL PERFORMANCE OF DT SACCOs IN KENYA" @default.
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