Inflation ( CCPI)50.6% (Feb 2023)
GDP-12.4% (4Q 2022)
Unemployment5.0% (3Q 2022)
3M T-Bill Rate25.99%
12M T-Bill Rate24.31%
5Y T-Bond Rate27.00%/ 27.25%
10Y T-Bond Rate22.00% / 23.00%
USD/LKR335/341
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Reserves $2.22Bn (Feb 2023)
Cum. Trade Deficit $449Mn (Feb 2023)
Cum. Fiscal DeficitLKR 1,601Bn (Nov 2022)

International

FeaturedMar 25, 2023

Banking stocks sink as fear of European banking crisis emerged

Despite the fact that the German Chancellor Olaf Scholz putting effort to cool the investors on Friday saying that there was “no reason to be concerned” about Deutsche Bank, the EUROPE banking sector is feeling the pressure. Germany’s biggest bank, Deutsche Bank (DB), plunged as much as 14.5% in early trade.

Europe’s Stoxx Europe 600 Banks index, which tracks 42 big EU and UK banks, closed 3.8% lower. The index is down by 18% from late February. London’s bank-heavy FTSE 100 index closed down 1.3%- Reported by CNN business.

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