Category: Economy and Markets
Sri Lanka policy rates unchanged, but tight stance promised
Jan 17, 2007 (LBO) — Sri Lanka’s central bank kept its main discount rate to banks unchanged at 12.00 percent but promised tight monetary policy ahead based on a quantity targeting framework unveiled earlier in January. “The targeted growth in reserve money, which will be maintained on a daily average basis, will ensure strict maintenance […]
Sri Lanka should be mindful of impact on poor from new inflation index: CEPA
Jan 17, 2007 (LBO) – A controversy over a new price index in Sri Lanka may have erupted partly because it came at time of high inflation, but the index shows the same trend as earlier ones, an organization focusing on poverty has said.“However, it is vital to remember that inflation hurts the poor first […]
Sri Lankan stocks edge lower as trading dries up
Jan 17, 2007 (LBO) – Sri Lankan stocks fell again Thursday but not as sharply as yesterday with trading drying up even further as investors remained cautious owing to continuing violence, brokers said.The All Share Price Index fell 3.28 points or 0.14 percent to close at 2,378.88, while the more liquid Milanka index shed 3.23 […]
Sri Lanka trade gap up in November
Jan 16, 2007 (LBO) — Sri Lanka’s trade gap widened 66 percent in November 2007 to 418 million dollars as exports dipped, but the deficit for the first 11 months was flat, the Central Bank said. Exports in November fell 5.1 percent with industrial exports dipping 13.8 percent. “This decline in export earnings could be […]
Sri Lankan stocks tumble as Tigers attack civilians
Jan 16, 2008 (LBO) – Sri Lankan stocks fell sharply Wednesday as Tamil Tigers killed at least 28 civilians in separate attacks in the island’s south, the day a ceasefire formally ended. The All Share Price Index lost 50.55 points or 2.08 percent to close at 2,382.16, while the more liquid Milanka index went down […]
Sri Lanka treasuries yields ease, rupee gains on greenback
Jan 16, 2007 (LBO) — Sri Lanka’s treasuries yields settled lower at Wednesday’s auction as the government rolled over 9.7 billion rupees of maturing bills, the debt office said, while the rupee made further gains against the US dollar. Three month yields fell to 87 basis points to 19.25 percent, 6-month bills fell 50 basis […]
Japan aid to Sri Lanka under review after truce break
Jan 15, 2008 (LBO) – Sri Lanka’s largest donor Japan said it was awaiting a political solution to the island’s internal conflict and was reviewing its aid policy after the island’s government pulled out of a truce with the Tamil Tigers. . Japan’s special envoy to the war-ravaged island said his government was gravely concerned […]
Sri Lanka bonds up again, bills lower
Jan 14, 2008 (LBO) – Sri Lanka bonds edged up slightly Monday but 3-month bill yields are expected to move down further at Wednesday’s auction, dealers said.In the secondary market 3-month bills were trading at 18.45/19.00 percent against a weighted average of 20.12 percent at the last auction, while 6-month bills were quoted at 18.90/19.25 […]
Sri Lanka bond yields slightly up
Jan 11, 2008 (LBO) — Sri Lanka bond yields edged up slightly after Friday’s auction which raised two billion rupees for the government in one and two year bonds, dealers said.The central bank also sterilized 1.2 billion rupees of liquidity by selling 11-day bills at an average yield of 18.51 percent and a further 1.8 […]
Sri Lanka central bank governor promises stability in 2008, no legislated targets yet: interview
Jan 10, 2007 (LBO) – After more than 50 years of failing to achieve price stability according to its own mandate, Sri Lanka’s central bank is facing unprecedented fire from critics as awareness of the dangers of unbridled, pure fiat central banking spreads in the country. Last year the Central Bank inflated the island’s economy […]
‘s central bank talks down rates
Jan 10, 2008 (LBO) – Sri Lanka’s central bank says that Treasuries yields will continue to ease following steep falls seen in government securities rates in the past two weeks.“It is expected that this declining trend of the interest rate structure in the market will be continued,” the public debt office, which is part of […]
Sri Lanka torn between syndicated loan and sovereign bond: official
Jan 09, 2008 (LBO) – Sri Lanka may float a medium to long term syndicated loan or a bond to raise funds from foreign markets if conditions are right in 2008, a top government official said Wednesday. Last year the Sri Lanka rupee only depreciated by about one percent. “Depending on our needs and depending […]