Inflation ( CCPI)1.5% (Oct 2023)
GDP-3.1% (2Q 2023)
Unemployment5.2% (2Q 2023)
3M T-Bill Rate15.29%
12M T-Bill Rate12.94%
2Y T-Bond Rate14.45%/ 14.50%
4Y T-Bond Rate14.70% / 14.80%
Reserves $3.56Bn (Oct 2023)
Cum. Trade Deficit $3,307 Mn (Sep 2023 cumulative)
Cum. Fiscal DeficitLKR 1,614 Bn (Sep 2023)

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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