Category: Policy
Chances of March Fed rate hike drop after FOMC statement
Jan 28, 2016 (LBO) – The chances of a U.S. Fed rate hike in March dimmed after a FOMC policy statement on Wednesday acknowledged global economic risks, as analysts interpreted the carefully worded statement. The FOMC decided to maintain the target range for the federal funds rate at 1/4 to 1/2 percent after a two-day […]
Government should engage with public on FTAs: Deshal De Mel
Jan 28, 2016 (LBO) – Sri Lanka’s government needs to engage with the public when negotiating Free Trade Agreements with other countries, economist Deshal De Mel said. De Mel on his blog stated that local manufacturing and services enterprises may have disruptive impacts through the Free Trade Agreement with China. “It is curious that there […]
‘s Rebirth, blog by Joseph E Stiglitz
By Joseph E. Stiglitz COLOMBO – Sri Lanka has been deservedly praised for the progress it has made since the end of the war against the separatist Tamil Tigers in 2009. The economy has grown at an average annual rate of 6.7%, and education and health statistics are impressive. All developing countries face myriad challenges, […]
New ministry to restructure rather than run public enterprises: Kabir Hashim
Jan 26, 2016 (LBO) – The mandate of Sri Lanka’s new Public Enterprise Development ministry is restructuring rather than running the country’s large portfolio of state-owned enterprises, Kabir Hashim, Sri Lanka’s minister of Public Enterprise Development, told the publishing and consultancy firm Oxford Business Group. “The main objective is to reduce the burden SOEs place […]
Sri Lanka Monetary Board holds key rates unchanged
Jan 25, 2016 (LBO) – Sri Lanka’s Monetary Board held interest rates unchanged on Monday with inflation somewhat subdued in December, and the impact of last months’s SRR increase still being transmitted through the economy, a statement said. The Monetary Board noted that “the policy adjustments made on the monetary and external fronts are still […]
Central Bankers should have dual mandate, says author of HDR 2015
Jan 22, 2016 (LBO) – Central Bankers in the modern era should have a dual mandate which concentrate on employment targeting in addition to conventional inflation targeting, lead author of the 2015 Global Human Development Report said. Making the South Asian regional release yesterday in Colombo Selim Jahan stated that enhancing human development through work […]
Probability of US March rate hike drops, eyes on Davos
Jan 20, 2016 (LBO) – The probability of a rate hike by the U.S. Fed by March fell to 40 percent with equity markets off to a bad start this year, as focus turns to the World Economic Forum in Davos. JPMorgan expects the next US interest rate hike in June, and some analysts predict […]
Stiglitz outlines carbon, inelastic, land, congestion taxes at economic forum
Jan 08, 2016 (LBO) – Renowned economist Joseph Stiglitz, speaking at the Sri Lanka Economic Forum, explained some of the ways the government could raise tax revenue by taxing environmental pollution, inelastic goods, land, consumption and road congestion. “What is the best way to increase tax revenue?” the nobel laureate asked a packed forum of […]
Every single day is a lost day, PM declares
Jan 07, 2016 (LBO) – Speaking to a packed house of corporate leaders, government officials, ministers, civil society leaders, diplomats and visiting economists, Sri Lanka’s Prime Minister Ranil Wickremesinghe underscored the need for urgent action to move the nation forward, in response to a question posed by Harvard University’s Professor Ricardo Haussmann. Previously in his […]
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. […]
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 […]