Central Bank leaves repurchase rates stable

The Central Bank has kept its reverse repurchase rate at 9.5 percent and the repurchase rate at 7.5 percent, saying the current monetary policy stance is appropriate. Issuing a statement the Central Bank said it expects inflation to moderate from March 2013 and reach mid-single digit levels thereafter. It added the external sector projections …

Governor assures price pressures will be contained in 2013

Sri Lanka’s central bank assures it will strive to contain price pressures while bolstering economic growth this year. Unveiling the Road Map for Monetary and Financial Sector Policies for 2013, Governor of the CBSL Ajith Nivaad Cabraal said they seek inflation in the mid-single digits, and the government’s infrastructure drive will help boost …

December inflation slowed down to 9.2%

Sri Lanka’s December inflation slowed down to 9.2% from 9.5% recorded during the previous month. However the rate is a massive spike year-on-year with the inflation rate according to the Colombo Consumer Price Index rising from 4.9% recorded a year ago. The country’s annual average inflation during the year 2012 is figured at 7.6%, from 6.7% …

CBSL revises 2012 economic growth to 6.5%

The Central bank has revised the islands 2012 economic growth target to 6.5 percent today from an earlier 6.8 percent due to its tight monetary and fiscal policies. In an interview with Reuters the Deputy Central Bank Governor Nandalal Weerasinghe said there will be slower than expected growth in the third quarter, which would be close to 5 …

Central Bank reduces rates as inflation climbs

The Central Bank of Sri Lanka has reduced its policy rates by 25 basis points. In its Monetary Policy review for the month of December CBSL said accordingly, the Repurchase rate and the Reverse Repurchase rate will be 7.50 per cent and 9.50 per cent, respectively, with immediate effect. The National Regulator also said inflation, as measured by …

Central Bank clarifies property acquisition in New York

The Central Bank of Sri Lanka has confirmed the Bank reported the acquisition of a property in New York, in accordance with the prevailing International and Sri Lanka Accounting Standards. United National Party MP Eran Wickramaratne on Monday informed parliament that the purchase has been omitted in the Bank's annual report. Responding to the …

SL per capita, growth support positive rating, Moody’s says

The rating agency Moody's has said in its latest credit analysis that Sri Lankan economy's current B1 sovereign rating has been based on its high per capita and growth. The analysis said Sri Lanka's per capita income of USD 2800 is the wealthiest among its South Asian neighbours and highlighted the island had benefited from integration into the …

Sri Lanka lost the finals an hour before it commenced

Bidding adieu to Pythagoras…

2011 GCE O/Level results to be delayed by a few days

IPL: Is the fat lady about to sing?

Of Men, Meat and Misinformation...