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%
Reserves $5.6Bn (June 2024)
Cum. Trade Deficit $2,180 Mn (May 2024 cumulative)
Cum. Fiscal DeficitLKR 361Bn (April 2024)

Bank's lending rates are adjusting at a lightning speed, surpassing 22%

Bank & FinanceJun 5, 2022
Bank's lending rates are adjusting at a lightning speed, surpassing 22%
The Average Weighted Prime Lending Rates (AWPLR) or the benchmark rate at which most short-term loans are priced by banks’ for their prime customers surpassed 22% by the end of last week. March to April it increased by 6.53% after CBSL's interest rate hike of 7%, while April to May it jumped by another 5.73% as market interest rates adjusted further responding to the growing inflation. Nominal inflation is at 39% and core-inflation is at 28.4% by end of May 2022.


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