Inflation ( CCPI)4.0% (Aug 2023)
GDP-3.1% (2Q 2023)
Unemployment4.8% (4Q 2022)
3M T-Bill Rate18.12%
12M T-Bill Rate13.32%
2Y T-Bond Rate14.60%/ 15.00%
4Y T-Bond Rate14.50% / 14.90%
USD/LKR322/323
Reserves $3.60Bn (Aug 2023)
Cum. Trade Deficit $2,623 Mn (July 2023 cumulative)
Cum. Fiscal DeficitLKR 1,243 Bn (June 2023)

Increasing sentiment for monetary easing but majority expect interest rate to be unchanged

Opinion pollsNov 23, 2022
Increasing sentiment for monetary easing but majority expect interest rate to be unchanged

CBSL is expected to announce its VIII monetary policy statement tomorrow. Inflation has started to decline, and credit to the private sector is crumbling. But yet to see any deceleration of government borrowing as external funding sources are limited. Despite the majority (55%) of the public expecting the rates to remain unchanged but 29% expect a monetary easing.

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