Inflation ( CCPI)1.7% (June 2024)
GDP5.3% (1Q 2024)
Unemployment4.3% (4Q 2023)
3M T-Bill Rate9.14%
12M T-Bill Rate9.95%
2Y T-Bond Rate10.10%/ 10.20%
4Y T-Bond Rate11.60% / 11.70%
USD/LKR303/304
Reserves $5.6Bn (June 2024)
Cum. Trade Deficit $2,180 Mn (May 2024 cumulative)
Cum. Fiscal DeficitLKR 361Bn (April 2024)

Average New lending rates offered by Commercial Banks fell below 10 percent in July

Interest RatesAug 24, 2020
Average New lending rates offered by Commercial Banks fell below 10 percent in July
CBSL has been adopting accommodative or expansion monetary policy as the economy is underperforming and expects to take time to recover due to COVID. In order to boost up the economic activities, CBSL flooded the market with excess money and created the environment for financial institutions to lend that money at a cheap cost for the public and enterprise. The New Deposit rate has fallen from 9.34% to 5.78% while the New lending rate fell from 12.53% to 9.85% from Jan to July 2020.

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