Business

CB Monetary Policy to decide on interest rates on Friday

20 March 2017 - 172   - 0

 

 

 

Sri Lanka's Central Bank, on Monday, said its monthly Monetary Policy Review will be announced on Friday March 24 at 7.30 am just before markets in Colombo (banking, stocks and money) open for trading.
The policy review sets benchmark interest rates which has been held steady and unchanged for several months now. 
However pressure is mounting on a possible hike in view of US Federal Reserve rates going up. Higher overseas rates have seen some outflow of foreign cash from bond and Treasury bill markets.
Government ministers have also insinuated that the pullout of US$1.475 billion from the country in the past 14 months by US-based Templeton Fund was partly political, blaming the former regime during whose period the fund made investments.
Finance Minister Ravi Karunanayake has said the withdrawal of these funds caused the rupee to depreciate sharply against the dollar while Deputy Foreign Minister Harsha de Silva said the Committee on Public Enterprises (should investigate the transactions carried out between Templeton Fund and the Central Bank in the past. - ENDS

  Comments - 0

  • Leave a comment

Top Stories

Russia restricts tea supplies from Sri Lanka after finding beetle

MOSCOW (Reuters) - Russia will place temporary restrictions on imports of all agricultural products from Sri Lanka, including tea, from Dec. 18, th...

15 December 2017 - Views : 4

SLT workers vow to picket demanding annual bonus    

14 December 2017

Six new Ministry Secretaries appointed

14 December 2017

Updated: SLT CEO quitting in three months  

14 December 2017



style="display:inline-block;width:300px;height:250px"
data-ad-client="ca-pub-6200193111498313"
data-ad-slot="1999573490">

 

Features & Analysis

In pictures: Women Of The World Festival

The Southbank Centre’s WOW (Women of the World) Festival, Colombo was held recently in partner...

Christmas services at Christ the Living Saviour

The Christmas services at the Anglican Cathedral of Christ the Living Saviour will be as follows: Christmas Eve Ser...

Mr.England title winner Jack Eyers visits the Adidas flagship store

Holder of the 2017/2018 Mr.England title, Jack Eyers recently visited the Adidas flagship store at the Racecours...

In pictures : ‘Designer Wedding Show 2017’

The ‘Designer Wedding Show 2017’, a much-looked-forward to event was presented by the Bride and Groom Mag...



style="display:inline-block;width:300px;height:250px"
data-ad-client="ca-pub-6200193111498313"
data-ad-slot="1999573490">