Category: Policy
Sri Lanka’s possible fiscal slippage, main argument for not relaxing policy: CBSL Chief
July 12, 2019 (LBO) – Sri Lanka’s possible fiscal slippage is the main argument against relaxing monetary policy, the Central Bank Governor Indrajit Coomaraswamy said. Speaking to journalists in Colombo after the monthly monetary policy announcement, he said the government’s revenue has come down with increased expenditure, opening doors for a possible fiscal slippage. Monetary […]
Sri Lanka Central Bank maintains policy interest rates at current levels
July 11, 2019 (LBO) – Monetary Board of Sri Lanka’s Central Bank at its monetary policy meeting has decided to maintain policy interest rates at their current levels. “Considering the current and expected macroeconomic conditions, the Monetary Board was of the view that there is ample space for market lending rates to adjust downwards in […]
Monetary Policy to be maintained allowing impact of previous rate cut to materialize: FCR
July 08, 2019 (LBO) – Sri Lanka’s Monetary Board would continue the policy rates with no change, considering the fact that it is too early to assess the impact of the previous 50 bps rate cut, First Capital said in a research note. “We believe that Monetary Board may first consider, CBSL’s ability to implement […]
Sri Lanka public servant pay hike effective from today
Jul 01, 2019 (LBO) – The salary increment and other allowances for public servants proposed by Finance Minister Mangala Samaraweera in his budget 2019 is effective from today (July 01). Accordingly, all public servants will receive an additional monthly allowance of 2500.00 rupees, the Finance Ministry said issuing a statement. Also, allowance for security forces […]
Sri Lanka GDP accelarates to 3.7-pct in Q1 2019
June 20, 2019 (LBO) – Sri Lanka’s economic growth rate is estimated as 3.7 percent for the first quarter of 2019, data from the state statistics office show. The Gross Domestic Product (GDP) at constant (20 I0) prices for the first quarter of 2019 recorded as 2,326,273 million rupees and GOP reported for the first […]
Sri Lanka CB launch roadmap for sustainable finance
Jun 20, 2019 (LBO) – The Central Bank launched the roadmap for sustainable finance in Sri Lanka and hosted a high-level seminar for senior officers of financial institutions and stakeholders, recently. This was the national launch of the roadmap for sustainable finance which was unveiled globally in April 2019 at the sustainable banking network global […]
Fin Min tells Parliament that Q1 2019 growth will rebound to 3.5-pct
Jun 19, 2019 (LBO) – Sri Lanka’s economic growth has increased to 3.5 percent of gross domestic product in the first quarter of 2019, Finance Minister Mangala Samaraweera told parliament. “Our Government took the real growth to the villages.The economy in the first quarter grew at 3.5 percent against 1.8 percent last quarter of 2018, which […]
Sri Lanka petrol price raised to Rs138 per ltr
Jun 11, 2019 (LBO) – Sri Lanka’s government will increased the price of 92 Octane petrol by three rupees to 138 rupees for a litre from midnight yesterday. The price revision was done under a pricing formula introduced by the Finance Ministry in 2018. Prices of three other fuels remained unchanged, according to a statement. […]
Central Bank will impose lending cap if Sri Lanka banks do not cooperate: CBSL Chief
Jun 03, 2019 (LBO) – Sri Lanka’s Monetary Board would need to consider whether they impose a lending cap if the banks are not cooperative enough to reduce the high lending rates, Central Bank Governor Indrajit Coomaraswamy warned. The Central Bank recently imposed a cap on deposit rates with the intention of bringing down lending […]
Amidst elevated market lending rates, private sector credit contracted notably: CBSL
May 31, 2019 (LBO) – Sri Lanka’s Central Bank on Friday said the market lending rates remained downward rigid, despite the measures already taken while the private sector credit showing a notable contraction. Sizable liquidity injections through the reductions in the Statutory Reserve Ratio (SRR) along with appropriate and prudent open market operations (OMOs) have […]
Sri Lanka Central Bank cuts SDFR and SLFR by 50 basis points
May 31, 2019 (LBO) – The Monetary Board of the Central Bank, at its meeting held on 30 May 2019, has decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 50 basis points to 7.50 percent and 8.50 percent, respectively. The Central Bank […]
World Bank to allocate USD 250mn policy based guarantee to Sri Lanka for external borrowings
May 29, 2019 (LBO) – The World Bank has offered 250 million US dollars worth policy based guarantee to Sri Lanka for the external borrowings, the Central Bank Governor Indrajit Coomaraswamy said. According to the Governor, under this facility Sri Lanka can leverage the guarantee four times over to borrow money from the international market […]