Bank of England expected to cut interest rates
Interest rates are expected to be cut by the Bank of England later, in a move closely watched by households and economists. Analysts predict the benchmark rate will be cut from 4.75% to 4.5%, as the Bank comes under pressures to boost the UK economy which has been showing slow growth. The Bank rate is the […]
World Bank Commits $200M to Support Sri Lanka’s Development Initiatives
World Bank Vice President for South Asia, Martin Raiser, concluded a 2-day visit to Sri Lanka today, where he met with His Excellency President Anura Kumara Dissanayake, Hon. Prime Minister Harini Amarasuriya and other government officials, private investors, and development partners to discuss the country’s ongoing efforts towards economic recovery and long-term growth. Raiser was grateful […]
Sri Lanka ranked 33rd globally for ease of obtaining visas
Sri Lanka has secured the 33rd spot globally for its ease of obtaining visas, a key element bolstering Colombo’s reputation as a top destination in South Asia and the country’s competitiveness as a tourist destination, according to Brand Finance. “The introduction of visa-free entry for nationals from 35 countries may have significantly boosted the city’s […]
BOC honoured as Bank of the Year Sri Lanka 2024
Bank of Ceylon (BOC), Sri Lanka’s premier financial institution, has been awarded the prestigious title of Bank of the Year Sri Lanka 2024 by The Banker magazine, a leading publication from the Financial Times Group in the United Kingdom. Notably, BOC also received this coveted award in 2021 and 2023, highlighting its continued excellence. Moreover, […]
IMF to assess Sri Lanka’s tax revisions in upcoming report
The IMF is reviewing recent tax revision announcements made by Sri Lanka’s president and plans to provide a detailed assessment in its staff report following Executive Board approval of the Extended Fund Facility (EFF). Speaking at a press briefing on Thursday (19), Julie Kozack, Director of the IMF’s Communications Department, stated that while a full […]
US makes third interest rate cut despite inflation risk
The US central bank has cut interest rates for a third time, despite concerns that the move will deliver a boost to the economy that risks reigniting inflation. The decision was expected, setting the Federal Reserve’s key lending rate in a target range of 4.25% to 4.5%. That is down a full percentage point since […]
Central Bank holds its 13th International Research Conference
The Central Bank of Sri Lanka held its flagship research event, the 13th International Research Conference, on 13 December 2024 at the John Exter International Conference Hall of the Central Bank. The Conference aimed at stimulating innovative theoretical and empirical research on various contemporary macroeconomic policy issues. It provided researchers from diverse backgrounds a platform […]
Bitcoin hits new record high of more than $106,000
Bitcoin has surged to a new record high, extending a rally that has seen the cryptocurrency’s price rise by more than 50% since Donald Trump’s victory in the 5 November election. The world’s largest cryptocurrency briefly passed $106,000 (£83,890), before falling back to around $105,000 in Asia trade on Monday. The incoming Trump administration is […]
President calls for strengthening financial system
President Anura Kumara Dissanayake has directed the Ministry of Finance to implement measures to enhance the efficiency and resilience of Sri Lanka’s financial system. The President provided these instructions during a discussion with Finance Ministry officials at the Presidential Secretariat today (12). Highlighting the Central Bank’s crucial role as an independent institution, President Dissanayake assured […]
World Bank Pledges Support for Sri Lanka’s “Clean Sri Lanka” Programme
The World Bank has expressed its commitment to supporting the Government of Sri Lanka’s “Clean Sri Lanka” programme, as announced by World Bank Executive Director Parameswaran Iyer during a meeting with President Anura Kumara Dissanayake at the Presidential Secretariat. Congratulating the President on forming the new government, Mr. Iyer affirmed that all ongoing World […]