Category: Economy
CBSL to establish permanent single-digit interest rate structure in economy
Jan 04, 2021 (LBO) – Capitalising on the achievement of 12-years of single-digit inflation, the Central Bank intends to establish a permanent single digit interest rate structure in the economy, Governor W D Lakshman said. Introducing the monetary and financial sector policies for 2021, Governor said that they will remain focused on maintaining market interest […]
Fallout from Pandemic prompts an unprecedented rate cut: FCR
Jun 30, 2020 (LBO) – First Capital Research (FCR) believes that there is a higher likelihood of 90% that CBSL may provide a rate cut to ensure the continued supply of credit at a low cost of funding. The firm also believes that there is a probability of 40% for a 100bps rate cut to […]
CBSL implements Credit Guarantee & Interest Subsidy Scheme for businesses
Jun 28, 2020 (LBO) – Sri Lanka’s Central Bank has decided to implement a Credit Guarantee and Interest Subsidy Scheme to accelerate lending by banks to businesses adversely affected by the COVID-19 pandemic. The Monetary Board of the Central Bank, at its meeting held on 26 June 2020 has decided that this scheme, which will […]
‘s government makes MCC review final report public
Jun 28, 2020 (LBO) – Sri Lanka’s government has published the final report by the Expert’s Committee appointed to review the proposed Millennium Challenge Corporation Compact (MCC). President Gotabaya Rajapaksa appointed a four-member Committee to review the proposed Millennium Challenge Corporation Compact (MCC) on January 01st, 2020. The Committee was chaired by Lalithasiri Gunaruwan, a […]
Central Bank sets record straight about COVID-19 relief measures announced so far
Jun 26, 2020 (LBO) – Sri Lanka’s Central Bank yesterday published a detailed statement which contains operational and policy measures undertaken by them thus far, to support the economy, the financial system, and the general public in the midst of the COVID-19 pandemic. “The Central Bank actively took steps to ease the burden on the […]
SL should aim for V-shaped economic recovery post COVID 19 : Cabraal
Jun 25, 2020 (LBO) – Ajith Nivard Cabraal, advisor to the Prime Minister on Economic Affairs says that Sri Lanka should aim for V-shaped economic recovery and aspire for high growth in the immediate future. Elaborating further on the topic Cabraal told Lanka Business Online exclusively. ……..
Central Bank approves Rs. 28bn loans at 4-pct among 13,861 businesses; Phase-II ready
Jun 24, 2020 (LBO) – Sri Lanka’s Central Bank says that they have approved 13,861 loan applications under the Phase-I of Saubagya Covid-19 Scheme so far, totaling Rs. 27.9 billion, out of which the licensed banks have already disbursed Rs.14.8 billion among 7,274 affected businesses island-wide. These loans carry a concessional interest rate of 4 […]
Sri Lanka’s external strains set to persist beyond elections: Fitch Ratings
Jun 24, 2020 (LBO) – Sri Lanka’s stressed external liquidity position is set to remain a weakness for the country’s credit profile, says Fitch Ratings. According to Fitch Ratings, policymakers may be able to offer more clarity about their economic agenda once elections are held on 5 August, but hurdles to accessing additional external financing […]
How to determine the best cloud service provider for your business.
As the COVID-19 pandemic encouraged most businesses to shift to remote work environments, it’s the cloud that made this possible. Although popularity for cloud computing increased in the wake of this pandemic, businesses have long since being depending on its services to make operations faster, simpler and more productive. With businesses that function by otherwise […]
‘s headline inflation decreased further in May
Jun 22, 2020 (LBO) – Headline inflation as measured by the year-on-year change in the National Consumer Price Index decreased further to 5.2 percent in May from 5.9 percent in April. This was mainly driven by the statistical effect of the high base that prevailed in May 2019. Meanwhile, Food inflation (Y-o-Y) declined to 11.1 […]
Trade deficit widens in April; import expenses on personal vehicles up, no tourism earnings
Jun 22, 2020 (LBO) – Sri Lanka’s trade deficit widened in April 2020 to US dollars 840 million, from US dollars 797 million in April 2019, as the decline in exports exceeded the decline in imports. Expenditure on merchandise imports declined notably, on a year on year basis, by 29.6 percent to US dollars 1, […]
100bps rate cut on the cards to push banks for lending: First Capital Research
Jun 19, 2020 (LBO) – First Capital Research allocates a policy rate cut expectation of 100bps bringing the SDFR and SLFR to 4.50% and 5.50%, respectively. Despite prevailing the low-interest-rate environment it will have a ripple effect on the overall economy, First Capital Research said in a new research note. “We believe that the Central […]