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%
USD/LKR327/328
Reserves $3.56Bn (Oct 2023)
Cum. Trade Deficit $3,307 Mn (Sep 2023 cumulative)
Cum. Fiscal DeficitLKR 1,614 Bn (Sep 2023)

FED hikes interest rates by 0.75% consecutive time

InternationalJul 28, 2022
FED hikes interest rates by 0.75% consecutive time

The Federal Reserve increased the interest rate by 0.75 percentage point to the range of 2.25%-2.5%. This is second time they push the rate by 0.75 percentage. They push it by 0.50 percentage in April and in March it pushed by 0.25% from almost zero level.

These moves in June and July represent the most stringent consecutive action since the Fed began using the overnight funds rate as the principal tool of monetary policy in the early 1990s-CNBC

First-quarter GDP declined by 1.6% annualized, and markets were bracing for a reading on the second quarter to be released Thursday that could show consecutive declines, a widely used barometer for a recession. The Dow Jones estimate for Thursday’s reading is for growth of 0.3%.

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