Central Bank further relaxes its monetary policy stance
The Monetary Policy Board of the Central Bank of Sri Lanka (CBSL) has decided to further reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 100 basis points (bps) to 9.00% and 10.00%, respectively. At its meeting on Thursday (Nov.23), the Board arrived at this […]
Central Bank reduces its policy interest rates
The Monetary Policy Board of the Central Bank of Sri Lanka (CBSL) has decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 100 basis points (bps) to 10.00% and 11.00%, respectively. The first monetary policy review by the Monetary Policy Board under the Central Bank […]
President to meet IMF team today for last meeting of EFF review
President Ranil Wickremesinghe is due to meet with the visiting team of the International Monetary Fund (IMF) today (26 Sep.). This meeting will be the last in the series of meetings held between the IMF team and representatives of the Sri Lankan government since 14 September, when discussions pertaining to the Extended Fund Facility (EFF) […]
Fitch downgrades Sri Lanka’s Long-Term Local-Currency IDR
Fitch Ratings has downgraded Sri Lanka’s Long-Term Local-Currency (LTLFC) Issuer Default Rating (IDR) to ‘RD’ (Restricted Default) from ‘C’. The ratings on its local-currency bonds tendered in the domestic debt exchange have been downgraded to ‘D’ from ‘C’ while its other four local-currency bonds not tendered in the domestic debt exchange have been affirmed at […]
Union Assurance Announces Robust Financial Results for H1 2023, Demonstrating Resilience and Growth
Union Assurance, Sri Lanka’s formidable Life Insurer, is proud to announce its exceptional financial performance for the first half of 2023, building on its success at the beginning of the year. The Company’s remarkable growth across key performance indicators underscores its unwavering commitment to delivering value to its stakeholders. Union Assurance’s Gross Written Premium continued […]
CSE’s ASPI records significant gains
The All Share Price Index (ASPI) of the Colombo Stock Exchange has recorded significant gains on Monday (Sep 04) with the index gaining 218.22 points to close at 11,374.64 points at the end of trading. This is an increase of 1.96% from the previous day. Meanwhile the S&P SL20 has gained 80.98 points (2.57%) to […]
Central Bank maintains policy interest rates at current levels
The Monetary Board of the Central Bank of Sri Lanka has decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 11.00 per cent and 12.00 per cent, respectively. The Board arrived at this decision, at its meeting held on […]
CBSL monitoring if bank lending rates are adequately lowered
The Central Bank of Sri Lanka (CBSL) is conducting special monitoring to determine if the lending rates have been adequately reduced by licensed commercial banks, Finance State Minister Ranjith Siyambalapitiya says. The lawmaker acknowledged the fact that the banking system is faced with numerous practical issues when lowering the lending rates. In late July, the […]
CBEU raises concerns over concealment of report on irregularities in state banks
The Ceylon Bank Employees Union (CBEU) has raised concerns over the concealment of the report compiled by the committee appointed to probe the irregularities within state banks. Accordingly, CBEU Chairman Channa Dissanayake stated that as a result of the non-publication of the report, the corruption and fraud taking place within state banks remain undisclosed. He […]
Monetary policy transmission still incomplete, says Sri Lanka central bank chief
Monetary policy transmission to the real economy in Sri Lanka is still incomplete, the governor of the country’s central bank, Dr. Nandalal Weerasinghe, said at a LSEG FX Community Event on Monday (Aug 7). Weerasinghe said he would like to see private sector interest rates come down further and at a faster pace, adding that […]