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)

Banks deposits rate have fallen by 10.0% while lending rate have fallen by 6.7% from end of 2022

Interest RatesAug 27, 2023
Banks deposits rate have fallen by 10.0% while lending rate have fallen by 6.7% from end of 2022

CBSL shifted to an easing monetary policy in June by reducing the benchmarked 4.50% and cutting SRR by 2%. That has resulted in a reduction in banks’ rates, deposits by 10%, and lending rates by 6.7%. However, the bank’s rate reduction is not equally implemented across all the financial products.

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