Sri Lanka’s economy grows 3.7% in 2021, below Central Bank projection
(Reuters) – Sri Lanka’s economy grew at a slower-than-expected 1.8% in the fourth quarter of the 2021 financial year, taking its full-year growth to 3.7%, data from the government’s statistics department showed on Tuesday. Lower than…
Sri Lanka’s Central Bank Withdraws Proposed additional incentive scheme for remittances and export earnings
Following the decision to float the exchange rate of the Rupee, the Central Bank of Sri Lanka (CBSL) announced the decision to withdraw the proposed scheme for additional incentives for remittances…
Sri Lanka’s Central Bank Removes interest rate caps on forex deposits
The Central Bank of Sri Lanka (CBSL) has removed the interest rate caps imposed on foreign currency deposit products of licensed commercial banks and the National Savings Bank following its…
Further Policy Tightening in Bracing for Global Spillovers – First Capital Research
Colombo-based independent research house, First Capital Research predicted an 80 percent probability for a policy rate hike at the upcoming Monetary Policy Review Meeting of the Central Bank of Sri…
CBSL increases policy rates by 50 basis points
The Monetary Board of the Central Bank of Sri Lanka (CBSL) has increased policy rates by 50 basis points to l curtail the possible build-up of underlying demand pressures in…
LANKAQR transactions top Rs. 1 billion in value in 3Q
Sri Lanka’s standardized National Quick Response code – LANKAQR based transactions topped Rs. one billion in value for the first time in the third quarter of 2021. With a total…
Sri Lanka’s Business Chambers urge the Government to seek IMF Support
Sri Lanka’s top business chambers urged the government to seek the support of the International Monetary Fund (IMF) as the forex crisis deepens pushing some businesses to consider relocating and…
Sri Lanka Receives another $100M from Bangladesh Bank under the currency swap facility
(The Daily Star): Bangladesh Bank has lent $100 million more to Sri Lanka to help the island nation stay afloat tackling a foreign exchange crisis. The fund was transferred from…
Sri Lanka’s Central Bank to Steer Towards a More Hawkish Direction – First Capital
Ahead of the Monetary Policy Review Meeting of the Central Bank of Sri Lanka (CBSL), the First Capital Research predicted a 50% probability for a policy rate hike to prevent…
The Central Bank publishes “Recent Economic Developments: Highlights of 2021 and Prospects for 2022″
The Central Bank of Sri Lanka today published “Recent Economic Developments: Highlights of 2021and Prospects for 2022” online with an overview of the performance of the Sri Lankan economy in…