Inflation ( CCPI)54.2% (Jan 2023)
GDP-11.8% (3Q 2022)
Unemployment5.0% (3Q 2022)
3M T-Bill Rate29.91%
12M T-Bill Rate27.72%
5Y T-Bond Rate29.00%
10Y T-Bond Rate30%
USD/LKR360/363
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Reserves $1.89Bn (Dec 2022)
Cum. Trade Deficit $5.2Bn (Dec 2022)
Cum. Fiscal DeficitLKR 1,647Bn (Oct 2022)

CBSL kept the benchmark interest rate unchanged to contain any demand-driven inflationary pressures

Interest RatesNov 24, 2022
CBSL kept the benchmark interest rate unchanged to contain any demand-driven inflationary pressures
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Weak economic performance in short term before moving to the recovery path and continuation of the credit contraction has been considered while positive signs such as narrowing down the trade deficit have forced CBSL to keep the tight monetary policy stance.

The Central Bank would expect a moderation of excessive market interest rates, in line with the prevailing policy interest rates. If an appropriate downward adjustment in the market interest rates would not take place in line with the envisaged disinflation path, the Central Bank will be compelled to impose administrative measures to prevent any undue movements in market interest rates.

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