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Inflation to continue

4 November 2010 10:41 am - 30     - {{hitsCtrl.values.hits}}

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Sri Lanka's central bank Governor Ajith Nivard Cabraal said on Thursday he expects inflation this year and next to be benign despite strong growth. Cabraal expected average inflation this year to be less than 6 percent and the average rate to come in 5 percent or less in 2011.

Cabraal said Sri Lanka would soon announce measures to relax currency controls and they were unlikely to include a change in the existing cap on foreign investments in government securities.

He said the government would expand areas where foreigners could invest, including in unlisted sectors.

Source: Reuters
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  Comments - 30

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  • M.H. Mohd Thursday, 04 November 2010 10:50 AM

    Good News to hear but we want to see it happen soon....

    Mandrake Thursday, 04 November 2010 05:39 PM

    Well at last the cat is out of the bag. Very soon the people will begin to feel the effects of the poor state of the economy. I think the inflation rate is much higher than 6%. This is not hard to understand as we see our purse shrink every month.

    nala3 Thursday, 04 November 2010 05:44 PM

    First eliminate corruption at all levels and then the inflation will disappear on its own!!

    Kan Thursday, 04 November 2010 11:08 AM

    Thanks for your advance information.

    Rajitha Thursday, 04 November 2010 05:56 PM

    maybe you should quit smoking.

    MagodisThuma Thursday, 04 November 2010 11:22 AM

    Inflate it up to the bursting point !.

    shameer Thursday, 04 November 2010 06:20 PM

    atleast; inflation & rate of income increase should go together. unfortunately its only happening to the ministers & their chaps rather than to the general public.

    UN Thursday, 04 November 2010 11:29 AM

    What is average inflation country in other counties and what are goods that are taken into to calculation is what matter.
    I thnk 5% is was above the average

    Dil Friday, 05 November 2010 09:01 AM

    How they calculate inflation is a real problem. Almost all the prices of commodities we used are selling more than 5% higher to prices of the beginning of the year even though our salary remains as it is. But these people are saying that inflation is at 5%. Are they lying to us or we are buying at the wrong place? May be he is talking about some other country.

    Shamil Mansoor Friday, 05 November 2010 05:22 AM

    5% for a developing country is good. But the way they measure the 5% is bull..

    suwantha Thursday, 04 November 2010 08:30 PM

    YOU ARE SPEAKING ABOUT YOUR FAMILY OR MAHINDA RAJAPAKSA.

    Unarmed Gunman Thursday, 04 November 2010 12:20 PM

    Sri Lanka is in fact in a very bad condition in economy but the government has been successful in making most of the people believe the other way round. First we all need to understand that our economy is really going down.
    The banks are forced to maintain the low interest rates by the government. The bank interests will fall automatically if economy goes up, but here government artificially manipulated the things. Just think, how can a country's economy develop while one family and it's relatives are corrupting in a big was as it had never been.
    For example: The CSE increased just because of the foreign investments but that increment was very poor in fugures - the percentage was high as we were in a too bad condition earlier. But the government spread this news as if as a proportional thing to economic growth, but it is entirely desperate. It's all of our duty to develop the economy.

    MK Friday, 05 November 2010 09:41 AM

    huh??? really?? what economica data are you using to base your 'expert opinion'?

    Capsule Thursday, 04 November 2010 12:26 PM

    The CCPI basket should also contain Alchol and Cigarettes, which will help us to find the real Inflation of the country...I strongly believe that the present inflation figure is a manupulated figure...

    Blff Bluff Friday, 05 November 2010 05:55 AM

    One day you say there is no inflation and another day you say there is inflation. Which one should we accept?

    manmohan singh Thursday, 04 November 2010 12:47 PM

    Fools are running this nation... inflation is a good thing for a certain level... while developing... but in sri lanka it is for killing peoples life.............
    god bless slave island !

    Jay Friday, 05 November 2010 10:01 AM

    The average person is struggling while the government goons are spending lavishly...and he has the nerve to imply inflation is tame.

    demon Thursday, 04 November 2010 01:09 PM

    this fellow is a big snake...ZZZzzzz....

    Micky Mouse Friday, 05 November 2010 06:17 AM

    Sorry it is for basic needs, not smoking or alcohol.

    RajasH Thursday, 04 November 2010 01:43 PM

    more like 600%

    Siripala Thursday, 04 November 2010 02:45 PM

    For years the real inflation level has always been higher than the official rate. Average mans take-home pay has not kept up with the real cost of living.
    Interest rates will start to go up regardless of the wishes of the Central Bank and inflation rate. The problem being the huge ampunt of GILTS that are going to be used and the printing of funny money.

    willows Friday, 05 November 2010 11:07 AM

    Cabraal should go home and hand over to a capable person???

    Ranjith Thursday, 04 November 2010 03:10 PM

    Your writing is not supported with any facts and your personal openion only. Tryagain, dear. Inflation act is a lubricany in a dynamic economy. may be 5-9% is a good rane.
    Money market need the momentum and pls read more on Public finance. please. Internet may help for you.

    Faqi Thursday, 04 November 2010 03:15 PM

    “Inflation is when you pay fifty rupees for the twenty rupee haircut you used to get for five ruppees when you had hair.”

    Ajith N Kabral Thursday, 04 November 2010 03:20 PM

    Forum dont u think this is a good move(:

    Sue Friday, 05 November 2010 07:11 AM

    How else can Ajith Nivard Caabral last so long without quoting funny figures all the time?

    TMA Friday, 05 November 2010 07:12 AM

    Public inancing.Probably our retirement funds

    Neomal Thursday, 04 November 2010 03:59 PM

    Ajith Nivard (BIG TALK) Cabraal.

    krishna Thursday, 04 November 2010 04:37 PM

    Cabral is "MEGA STAR" of the year .

    Dilshan Haris Thursday, 04 November 2010 04:44 PM

    Thank you for stating the obvious, Mr Cabraal!


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