Category: Markets
‘s Extended Fund Facility
Sep 25, 2019 (LBO) – International Monetary Fund (IMF) says that the Sri Lankan authorities are taking steps to complete all the pending actions and structural benchmarks for the sixth review of Sri Lanka’s Extended Fund Facility (EFF) over the next few weeks. A staff team from the IMF led by Manuela Goretti visited Colombo […]
Global financial assets fall, SL economy slows: Report
Sep 20, 2019 (LBO) – Allianz’s Global Wealth Report, which puts the asset and debt situation of households in more than 50 countries/regions under the microscope says financial assets in 2018 across industrial and emerging countries/regions declined simultaneously for the first time. Savers worldwide have found themselves in a bind, due to the escalating trade […]
Sri Lanka GDP growth 1.6-pct in Q2
Sep 19, 2019 (LBO) – Sri Lanka’s Gross Domestic Product (GDP) growth rate for the second quarter of 2019 has been estimated as 1.6 percent, a new report said. The GDP for the second quarter of 2019 at current price and constant (2010) price have reached up to 3,620,736 million rupees and 2,315,995 million rupees […]
Sri Lanka official reserves improve to USD 8.5 bn in August
Sep 06, 2019 (LBO) – Sri Lanka’s gross official reserves were 8,532.6 million US dollars by the end of August, up from 8,343.9 million US dollars in July, latest Central Bank data showed. By the end of August, foreign currency reserves were 7,494.7 million dollars while the reserve position in the IMF was 65.5 million […]
‘s Bank privatization rumour is baseless & politically motivated: Finance Ministry
Sep 03, 2019 (LBO) – Sri Lanka’s Government emphasizes that the proposed amendments to the People’s Bank Act never aims to privatize People’s Bank. According to the Finance Ministry, the only objectives are to increase the authorized share capital of the People’s Bank and to enable the Bank to issue debentures without the additional requirement […]
CSE to amend listing rules in improving public market access, IPO process
Sep 03, 2019 (LBO) – Colombo Stock Exchange (CSE) and the Securities and Exchange Commission of Sri Lanka (SEC), is proposing to revise the regulatory framework governing the initial listing of shares on the CSE. The exercise is aimed at broadening the CSE Listing Rules to complement Sri Lanka’s rapidly developing commercial landscape comprising of […]
Rupee depreciation pressure experienced during past few days to be short-lived: Central Bank
Aug 23, 2019 (LBO) – Sri Lanka’s Central Bank expects the rupee depreciation pressure experienced during the past few days, to be short-lived. The Sri Lankan rupee appreciated against the US dollar by 2.4 percent so far during the year, although some depreciation pressure was experienced recently. The Central Bank said the depreciation pressure, mainly […]
Central Bank decides to reduce SDFR & SLFR by 50bps; SRR unchanged
Aug 23, 2019 (LBO) – Monetary Board of the Central Bank has decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) by 50 basis points to 7.00 percent and 8.00 percent, respectively. Statutory Reserve Ratio (SRR) unchanged. The Board said it arrived at this decision following a careful […]
Samurai Bond to support reserves to maintain around USD8Bn throughout 2019: FC
Aug 20, 2019 (LBO) – Sri Lanka’s First Capital Research believes that the raising of 500 million dollars via Samurai Bonds is likely to support to maintain reserves around the 8 billion dollar mark throughout the rest of this year. As per the Governor of Central Bank, the government will soon issue Request for Proposals […]
First Capital assigns higher probability for neutral monetary policy stance
Aug 20, 2019 (LBO) – Sri Lanka’s First Capital Research believes that the Central Bank may delay the monetary easing while allowing the impact of the previous rate cut to materialise. With manufacturing and credit signaling signs of recovery in economy and vulnerabilities affecting the external outlook, they assign a higher probability of 70 percent […]
Sri Lanka official reserves at USD 8.3bn by end July; YTD rupee appreciation 3.1-pct
Aug 09, 2019 (LBO) – Sri Lanka’s gross official reserves were 8,343.9 million US dollars by the end of July, down from 8,864.98 million US dollars in June, latest Central Bank data showed. By the end of July, foreign currency reserves were 7,366.8 million dollars while the reserve position in the IMF was 65.8 million […]
Federal Reserve cuts interest rates for first time since 2008
Aug 02, 2019 (LBO) – The United States Federal Reserve lowered its benchmark rate by a quarter-point yesterday, its first rate cut since December 2008. The policymaking Federal Open Market Committee drops the target range to 2 percent to 2.25 percent for its overnight lending rate, or 25 basis points from the previous level. The […]