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)

Bank's new deposit rate continue to increase while CBSL request to avoid competition for deposits

Interest RatesDec 2, 2022
Bank's new deposit rate continue to increase while CBSL request to avoid competition for deposits
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The average new deposit rate of the banks reached an all-time high of 23.22% - 23.61% in October, which is an increase little over 1%. But during the same period, the T-Bill rates (364Days) fell marginally. This prompted CBSL to warn banks to avoid competition for FDs.

But on the other hand, the 364Days T-bill rate at 29.60%, generating a 6.50% negative return for FDs over T-bills.

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