Inflation ( CCPI)1.7% (June 2024)
GDP5.3% (1Q 2024)
Unemployment4.3% (4Q 2023)
3M T-Bill Rate9.55%
12M T-Bill Rate10.07%
2Y T-Bond Rate10.55%/ 10.65%
4Y T-Bond Rate11.80% / 11.85%
USD/LKR303/304
Reserves $5.6Bn (June 2024)
Cum. Trade Deficit $2,180 Mn (May 2024 cumulative)
Cum. Fiscal DeficitLKR 361Bn (April 2024)

CBSL to impose interest rate caps on banking products

Interest RatesAug 24, 2023
CBSL to impose interest rate caps on banking products

In the bid to reduce the time lag of adjusting the interest rate structure for banking products, CBSL has proposed a substantial reduction of interest rates for selected banking products. Despite the interest rate of treasury products are being adjusted it has taken undue time to adjust the interest rate for banking products.

CBSL seems to be keen on normalizing the misaligning of interest rates of banking products before the next monetary easing.

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