Broad money supply (M2b) continued to expand at a high rate with a year-on-year growth of 17.2 per cent in November 2015, following the growth of 17.0 per cent in the previous month. In November 2015, the net foreign assets (NFA) of the banking sector improved with the receipt of the proceeds of the International Sovereign Bond (ISB) of US dollars 1.5 billion issued on 27 October 2015. The issuance of the ISB also facilitated a reduction of net credit obtained by the government (NCG) from the banking sector during the month of November, while credit obtained by public corporations also declined. Meanwhile, credit extended to the private sector by commercial banks remained the key driver of broad money growth, recording an increase of 27.0 per cent (year-on-year) in November 2015, compared to the growth of 26.3 per cent in October. In absolute terms, the monthly increase in private sector credit was Rs. 91.2 billion, leading to a cumulative expansion in private sector credit of Rs. 647.7 billion during the first eleven months of 2015.

The Central Bank of Sri Lanka will commence operations at its Regional Office in Nuwara Eliya on 17 January 2016 to further expand its regional presence to promote financial inclusion and to facilitate economic activities in the region. The Nuwara Eliya Regional Office is to be declared open by Mr. Arjuna Mahendran, the Governor of the Central Bank of Sri Lanka, with the participation of the senior management of the Central Bank and senior officials of commercial banks and government institutions.