Central Bank of Sri Lanka

Central Bank of Sri Lanka

August 16, 2013

As in June and July, Sri Lankan central bank interest rates were left unchanged after this month’s policy meeting, but a statement released by the authorities hints of a possible further cut in the future.  The repo rate and reverse repo rates were cut by 25 basis points last December and another 50 bps on […] More

Sri Lankan Repo Rate Kept at 7.0% after Being Cut Last Month

June 7, 2013

The repo and reverse repo rates were previously sliced by 25 basis points last December and by 50 bps on May 10.  They currently stand at 7.0% and 9.0%, respectively. May’s reduction was set against the backdrop of slower and slower-than-anticipated first-quarter growth, a stronger rupee, satisfactory external balances, and decelerations of core inflation and […] More

No Central Bank Rate Change in Sri Lanka

February 12, 2013

Sri Lankan central bank authorities have retained a 7.5% repo rate (and 9.5% reverse repo), just as they decided in January.  The rates were cut by 25 basis points in December once progress had been observed in cutting non-oil import growth and domestic credit expansion.  Those were the goals sought when central bank rates were […] More

Central Bank of Sri Lanka

January 17, 2013

Calling their current monetary policy stance “appropriate,” Sri Lankan central bank officials did not implement a follow-up easing this month after having cut the repo and reverse repo rates by 25 basis points each in December to 7.5% and 9.5%.  October’s reductions were the first cuts since 2009 and left rate levels 50 basis points […] More

Central Bank Rate Cut in Sri Lanka

December 12, 2012

The intended impact of rate hikes of 50 basis points last February and another 25 bps in April have been largely reaped.  Money and credit growth are slowing.  Real economic growth, although ample, has moderated, and the trade deficit has narrowed.  In a newly released statement, officials defended today’s reversal of last April’s tightening.   “Having […] More

Sri Lanka: No Further Monetary Tightening at This Time.

March 14, 2012

The Sri Lankan economy has issues that often require monetary policy tightening: an excessive trade deficit, private domestic credit growth of more than 30% on year, diminished international reserves, and a vulnerability.  A number of measures were taken earlier this year to address the problems including an 18% cap on credit growth and, on February […] More

Central Bank of Sri Lanka

January 11, 2012

The Sri Lankan repo rate of 7.0%, which was last reduced a year ago, has been retained for another month.  That country’s Monetary Board implemented rate reductions from a mid-2009 high of 8.5% totaling 100 basis points in 2009, 25 bps in 2010 and 25 bps in 2011.  A statement from the central bank today […] More

Sri Lankan Repo Rate Held Steady at 7.0% Despite Lower Inflation

November 16, 2011

Sri Lankan inflation dropped to 5.1% in October from 6.4% in September and a peak in mid-2008 of 28.2%.  Nonetheless, officials at the Central Bank of Sri Lanka voted to retain a 7.0% repo rate and an 8% reserve requirement after discussing the merits of easing.  The repo rate was last cut in January 2011 […] More

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