Inflation ( CCPI)5.9% (Feb 2024)
GDP4.5% (4Q 2023)
Unemployment4.7% (3Q 2023)
3M T-Bill Rate10.17%
12M T-Bill Rate10.28%
2Y T-Bond Rate10.85%/ 11.00%
4Y T-Bond Rate12.10% / 12.20%
USD/LKR301/303
Reserves $4.517Bn (Feb 2024)
Cum. Trade Deficit $4,866 Mn (Dec 2023 cumulative)
Cum. Fiscal DeficitLKR 2,020 Bn (Nov 2023)

The growth of the Outstanding value of the Credit Cards slowing down

Bank & FinanceDec 8, 2022
The growth of the Outstanding value of the Credit Cards slowing down

High-interest rates and the declining purchasing power of consumers have negatively influenced the growth of the credit card outstanding. Given the ultra-high inflation, the current outstanding would reflect low consumption in reality.

It was as learned that banks’ credit to the private sector has also been negative for the last six months.

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