Category: Economy and Markets
Sri Lanka bonds up again, bills lower
Jan 14, 2008 (LBO) – Sri Lanka bonds edged up slightly Monday but 3-month bill yields are expected to move down further at Wednesday’s auction, dealers said.In the secondary market 3-month bills were trading at 18.45/19.00 percent against a weighted average of 20.12 percent at the last auction, while 6-month bills were quoted at 18.90/19.25 […]
Sri Lanka bond yields slightly up
Jan 11, 2008 (LBO) — Sri Lanka bond yields edged up slightly after Friday’s auction which raised two billion rupees for the government in one and two year bonds, dealers said.The central bank also sterilized 1.2 billion rupees of liquidity by selling 11-day bills at an average yield of 18.51 percent and a further 1.8 […]
‘s central bank talks down rates
Jan 10, 2008 (LBO) – Sri Lanka’s central bank says that Treasuries yields will continue to ease following steep falls seen in government securities rates in the past two weeks.“It is expected that this declining trend of the interest rate structure in the market will be continued,” the public debt office, which is part of […]
Sri Lanka central bank governor promises stability in 2008, no legislated targets yet: interview
Jan 10, 2007 (LBO) – After more than 50 years of failing to achieve price stability according to its own mandate, Sri Lanka’s central bank is facing unprecedented fire from critics as awareness of the dangers of unbridled, pure fiat central banking spreads in the country. Last year the Central Bank inflated the island’s economy […]
Sri Lanka torn between syndicated loan and sovereign bond: official
Jan 09, 2008 (LBO) – Sri Lanka may float a medium to long term syndicated loan or a bond to raise funds from foreign markets if conditions are right in 2008, a top government official said Wednesday. Last year the Sri Lanka rupee only depreciated by about one percent. “Depending on our needs and depending […]
Sri Lanka treasuries yields plummet
Jan 08, 2007 (LBO) — Sri Lanka’s short term treasuries yields plunged at Wednesday’s auction, while secondary market yields on longer term bonds also fell amidst foreign buying, dealers said. Three month treasury yields fell 118 basis points to 20.12 percent, 6-month bills fell 20 basis points to 19.79 percent and 12-month yields also fell […]
Sri Lanka capital rocked by blast
Jan 28, 2008 (LBO) – A powerful blast ripped through the Sri Lanka’s capital central business district in the Fort area, a reporter at the scene said. Ambulances rushed to the scene and a military bomb disposal squad is examining the area the reporter said. The defence ministry said a bomb has been placed inside […]
Sri Lanka bond yields fall, rupee gains against greenback
Jan 08, 2008 (LBO) – Sri Lanka’s government bonds rose on foreign buying and the rupee gained against the greenback to close at 108.30/40 Monday, dealers said. Bonds maturing in 15.03.09 which traded at yields as high as 19.85 fell to 19.30/40 levels in the secondary market. When yields fall the price of the bond […]
Sri Lanka needs better budgets for low inflation: central bank
Jan 03, 2008 (LBO) – Sri Lanka’s central bank governor Nivard Cabraal said better budgets were needed to lower inflation, as heavy government borrowings made it difficult to conduct effective monetary policy. “The conduct of a successful monetary policy, while facing a high budget deficit is a challenging task,” he said in a speech outlining […]
Sri Lanka rupee depreciates 1-pct in 2007, reserves US$3bn: central bank
Jan 01, 2008 (LBO) – Sri Lanka’s central bank says the rupee closed at 107.71 against the dollar in 2007 indicating that the domestic currency only depreciated by one percent against the greenback last year. . “This depreciation was substantially below some of the adverse expectations that prevailed in the market, based on certain claims […]
Sri Lanka central bank gives up on low inflation for 2008
Jan 02, 2007 (LBO) – Sri Lanka’s central bank has given up achieving low inflation in 2008 with Governor Nivard Cabraal saying that the bank may allow consumer inflation to go as high as 14 percent this year.. However, Cabraal said his institution would try to keep consumer inflation at around 10 to 11 percent […]
Sri Lanka treasury rates flat ahead of policy speech
Jan 02, 2008 (LBO) – Sri Lanka’s Treasury bill yields were flat at Wednesday’s auction ahead of a key monetary policy speech by Governor Nivard Cabraal, the government’s debt office said. Three month treasury yields remained at 21.30 percent, 6-months 19.99 percent and 12-months 19.96 percent. The debt office, which is run by the Central […]