Category: Economy
‘s Treasury bill yields up across the board
Jan 06, 2015 (LBO) – Sri Lanka’s Treasuries yields were up with the 12-month yield rose 12 basis points to 7.42 percent at Wednesday’s auction, as statement said. 6 month bills rose 10 basis points to 6.93 percent while the 3-month yield rising 14 basis points to 6.59 percent, data from the state debt office […]
Sri Lanka, Pakistan consider currency swap agreement
Jan 06, 2015 (LBO) – Sri Lanka and Pakistan will considering entering into a currency swap agreement, the Prime Minister of Pakistan Nawaz Sharif said speaking in Colombo. The two countries will also look at a joint investment company, he said speaking at the launch of the single country trade exhibition. Sri Lanka has a […]
Foreign funds overweight on India bonds
Jan 05, 2016 (LBO) – India has a positive story for bonds with some foreign funds investing in emerging markets overweight on Indian bonds, a report said. Falling oil prices improved Indian government finances — the country is a net importer of oil — while a stable currency and limited exposure to China supported these investments. […]
Colombo inflation decelerates to 2.8-pct in December
Jan 01, 2016 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 2.8 percent in December 2015 from a year earlier, down from 3.1 percent in November 2015 with the inflation index rising 0.3 percent in the month, the state statistics office said. The Consumer price index for all items in December was 185.2 […]
Sri Lanka Treasury issues bonds to support state enterprises
Jan 01, 2016 (LBO) – Sri Lanka’s treasury has issued 50 billion rupees in bonds to repay outstanding loans or raise capital of state-owned enterprises, a Central Bank official said, explaining the likely scenario for an increase in bonds outstanding this month. Data shows a bond maturing 15 December 2020, for 50 billion rupees, placed […]
Sri Lanka interest rates tied to inflation, Fed: CB Governor
Jan 01, 2016 (LBO) – Sri Lanka will review policy interest rates based on inflation outlook and external factors such as Fed interest rates, the Central Bank Governor told a press conference. “The key thing to look at is inflationary expectations and that is something we have full responsibility for,” Governor Arjuna Mahendran said. The […]
Sri Lanka Economic Forum with Soros, Stiglitz next month
Dec 31, 2015 (LBO) – Sri Lanka’s government will host its Sri Lanka Economic Forum next month with business magnate and philanthropist George Soros and nobel laureate Joseph Stiglitz as guest speakers.The conference, an initiative of Prime Minister Ranil Wickremesinghe, will bring together development specialists to advise the various arms of government on its development […]
Sri Lanka govt in informal consultation with IMF: CB Governor
Dec 31, 2015 (LBO) – Sri Lanka’s Central Bank Governor Arjuna Mahendran said that they are examining the possibilities of an International Monetary Fund (IMF) loan facility next year. “Yes we are examining the possibilities and the government are in informal consultation with the IMF,” Mahendran said. “A team is due here for regular discussions […]
Sri Lanka economy grew 5.2 pct in first nine months : CB-Updated
(Updated with Central Bank presentation) Dec 31, 2015 (LBO) -Sri Lanka’s economy grew 5.2 percent during the first nine months of the year compared with 2.4 percent growth during the same period last year, the Central Bank said on Thursday. Strong credit growth to the private sector seeping out as consumption imports was, however, a […]
Sri Lanka Central Bank tightens monetary policy, increases SRR
Dec 30, 2015 (LBO) – Sri Lanka’s Central Bank tightened monetary policy on Wednesday citing concerns over expansion in monetary aggregates fueling inflation. The Monetary Board raised the Statutory Reserve Ratio (SRR) applicable to all rupee deposit liabilities of commercial banks by 1.50 percentage points to 7.50 per cent effective from 16 January. The Standing […]
Dollar gains limited in 2016, fund managers look elsewhere
Dec 29, 2015 (LBO) – US Dollar gains are expected to be limited next year compared with the strengthening seen over the last two years after a well-expected tightening of interest rates by the US Fed this month. The dollar rallied 10 percent to 1.09 per euro this year from 1.2 per euro at the […]
Sri Lanka foreign reserves rise to USD7.3 bln in Nov
Dec 29, 2015 (LBO) – Sri Lanka’s official foreign reserves increased to 7,295 million dollars at the end of November this year, up from 6,480 million dollars at the end of October after a sovereign bond issue, according to figures released by the Central Bank. This included 6,463 million dollars in foreign reserves and 756 […]