• Mon. May 27th, 2024

Sri Lanka’s Central Bank delays Monetary Policy Announcement over political crisis

The Central Bank of Sri Lanka (CBSL) has delayed the announcement of the Monetary Policy Review decision which was scheduled for tomorrow with the resignation of the CBSL Governor, Ajith Nivard Cabraal amidst social unrest.

“The Press Release on the Monetary Policy Review No. 03 of 2022 scheduled to be released on 05 April 2022 at 7.30 am has been postponed. Accordingly, the Press Conference scheduled for 05 April 2022 has also been postponed. The date of the announcement of the Press Release and the Press Conference will be informed in due course,” CBSL announced.

Following Cabraal’s resignation, Former CBSL Senior Deputy Governor Dr. P. Nandalal Weerasinghe is now tip to be appointed as the next CBSL Governor.

First Capital Research expects the Monetary Board of CBSL to increase the policy interest rates in the range of 100-300 basis points to stabilize the Rupee.

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