Sat, 01 Oct 2022 Today's Paper

Policy rates won’t change in next 3 to 6 months: Cabraal

22 January 2014 04:51 am - 3     - {{hitsCtrl.values.hits}}

A A A

Sri Lanka’s interest rates are at an appropriate level and the Central Bank probably will keep borrowing costs steady for the next three to six months if current conditions persist, Governor Ajith Nivard Cabraal was quoted as saying to Bloomberg.

“There may be some other adjustments that we may need to make in the economy as we move on, but from the rates point of view, it seems appropriate in the current circumstances,” Cabraal said in an interview in yesterday.

“As it is now, there doesn’t seem to be a need for any change, but if we do see any changes, we will be quick to react.”

The central bank lowered one key interest rate earlier this month after unexpectedly cutting borrowing costs in October. The decision ignored advice from the International Monetary Fund to hold off on further easing to allow time for earlier cuts to take effect.

“The monetary sector looks stable,” Cabraal said on Bloomberg Television yesterday.

“Growth momentum has been back to normal. The exchange rate has been stable. All those conditions give us the confidence to say that the policy measures that we have taken in the past have been working and are working.”

Inflation has been in check and the outlook for price gains is benign, Cabraal said. Consumer prices rose 4.7 percent in December from a year earlier, the slowest pace since February 2012.
Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

  Comments - 3

Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.
  • san Friday, 24 January 2014 05:54 AM

    What about CIFL, boss, , you are a thief

    buddhika lokubandara Saturday, 25 January 2014 08:04 AM

    Prices are sky-rocketing and he is depriving those who are dependent on treasury bill rates for their survival - strangely enough Cabraa states that inflation has come down and hence the reduction in treasury bill rates -

    has Wednesday, 22 January 2014 11:38 AM

    Cabee where is the CIFL money you relative stole


Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




Sri Lanka’s 60 Shades of White

Parliamentarians—so-called supreme legislators—wear white, the colour of

To benefit of our next generation We must conserve our environment

There is no doubt that the economic crisis which Sri Lanka is facing at the m

How shortsighted and greedy Govts. destroyed agriculture

According to the latest World Bank assessment Sri Lanka ranks fifth among cou

The Queen: End of a long-ended era - and new world order

The Queen is dead. With her, the Second Elizabethan era came to an end. Duri


MIRROR CRICKET